Indiana Trust & Investment Management CO Invests $218,000 in Praxair, Inc. (PX)

Indiana Trust & Investment Management CO bought a new stake in shares of Praxair, Inc. (NYSE:PX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,641 shares of the basic materials company’s stock, valued at approximately $218,000.

Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Praxair by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 499,203 shares of the basic materials company’s stock valued at $58,502,000 after buying an additional 25,131 shares during the period. Park National Corp OH increased its position in Praxair by 6.0% in the first quarter. Park National Corp OH now owns 4,662 shares of the basic materials company’s stock worth $553,000 after buying an additional 265 shares during the period. Franklin Street Advisors Inc. NC increased its position in Praxair by 1.3% in the first quarter. Franklin Street Advisors Inc. NC now owns 88,113 shares of the basic materials company’s stock worth $10,450,000 after buying an additional 1,172 shares during the period. Bridges Investment Counsel Inc. bought a new position in Praxair during the first quarter worth $214,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in Praxair by 2.6% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 252,885 shares of the basic materials company’s stock worth $29,992,000 after buying an additional 6,524 shares during the period. 85.53% of the stock is currently owned by institutional investors.

Praxair, Inc. (NYSE PX) traded down 0.14% during midday trading on Friday, hitting $127.44. 582,993 shares of the company traded hands. The stock’s 50-day moving average price is $132.46 and its 200 day moving average price is $125.54. Praxair, Inc. has a 12-month low of $114.43 and a 12-month high of $138.69. The company has a market capitalization of $36.45 billion, a price-to-earnings ratio of 23.87 and a beta of 0.93.

Praxair (NYSE:PX) last posted its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.46 EPS for the quarter, topping the consensus estimate of $1.43 by $0.03. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.80 billion. Praxair had a net margin of 14.10% and a return on equity of 27.93%. The business’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $1.39 earnings per share. On average, equities analysts forecast that Praxair, Inc. will post $5.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Wednesday, September 6th. Praxair’s dividend payout ratio (DPR) is presently 58.88%.

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A number of research firms have recently weighed in on PX. Zacks Investment Research downgraded shares of Praxair from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub downgraded shares of Praxair from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $162.00 price target on shares of Praxair in a research note on Wednesday, June 21st. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $156.00 price target (up from $130.00) on shares of Praxair in a research note on Sunday, June 11th. Finally, Vertical Research upgraded shares of Praxair to a “hold” rating and upped their price objective for the stock from $123.00 to $127.00 in a report on Wednesday, June 7th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $135.00.

About Praxair

Praxair, Inc is an industrial gas company. The Company’s operations are organized into five segments, four of which have been determined on a geographic basis of segmentation: North America, Europe, South America and Asia. In addition, it operates its surface technologies business through its subsidiary, Praxair Surface Technologies, Inc, which represents the fifth segment.

Institutional Ownership by Quarter for Praxair (NYSE:PX)

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