Maintain LIN at Hold given the record $8.1B backlog and 11.3% EPS growth providing fundamental support, but damaged momentum (MACD at -8.05, descending 50 SMA) and a stretched 31.6x P/E with 2.09x PEG argue against aggressive adding into weakness. Adopt a tactical re-engagement framework with 10-15% adds on a single confirmation signal (successful $478 retest on declining volume), structural stop at $472.91 weekly close, with trim targets at $504-508 on stall signals.