AE Wealth Management LLC Invests $227,000 in Chart Industries, Inc. (NYSE:GTLS)

Key Points

• AE Wealth Management LLC has acquired 1,573 shares of Chart Industries, valued at approximately $227,000, marking a new stake in the company.
• In the 4th quarter, several other hedge funds increased their holdings in Chart Industries, including LPL Financial LLC, which raised its holdings by 47.3% to own 21,143 shares.
• Chart Industries reported a revenue of $1.08 billion for the last quarter, falling short of analysts' expectations of $1.11 billion, and posted an EPS of $2.59, missing the consensus estimate by $0.03.

AE Wealth Management LLC bought a new position in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,573 shares of the industrial products company's stock, valued at approximately $227,000.

A number of other large investors also recently made changes to their positions in GTLS. LPL Financial LLC increased its stake in Chart Industries by 47.3% during the 4th quarter. LPL Financial LLC now owns 21,143 shares of the industrial products company's stock worth $4,035,000 after acquiring an additional 6,785 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in Chart Industries during the 4th quarter worth $316,000. Norges Bank bought a new position in Chart Industries during the 4th quarter worth $88,609,000. Pictet Asset Management Holding SA increased its stake in Chart Industries by 17.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,260 shares of the industrial products company's stock worth $1,195,000 after acquiring an additional 918 shares during the period. Finally, Schroder Investment Management Group increased its stake in Chart Industries by 16.8% during the 4th quarter. Schroder Investment Management Group now owns 59,215 shares of the industrial products company's stock worth $11,286,000 after acquiring an additional 8,507 shares during the period.

Wall Street Analyst Weigh In

A number of research firms have commented on GTLS. Hsbc Global Res upgraded Chart Industries to a "hold" rating in a research note on Wednesday, July 30th. Barclays cut their price objective on Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. UBS Group downgraded Chart Industries from a "strong-buy" rating to a "hold" rating and cut their price objective for the company from $225.00 to $210.00 in a report on Wednesday, July 30th. Morgan Stanley lowered their target price on Chart Industries from $250.00 to $225.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, The Goldman Sachs Group set a $180.00 target price on Chart Industries and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $202.00.

Chart Industries Stock Up 0.2%

Chart Industries stock traded up $0.32 during midday trading on Tuesday, reaching $199.07. The stock had a trading volume of 4,069,951 shares, compared to its average volume of 1,187,507. Chart Industries, Inc. has a 12 month low of $101.60 and a 12 month high of $220.03. The company has a market capitalization of $8.95 billion, a P/E ratio of 37.00, a PEG ratio of 1.15 and a beta of 1.59. The company has a fifty day moving average price of $163.31 and a two-hundred day moving average price of $163.43. The company has a current ratio of 1.55, a quick ratio of 1.27 and a debt-to-equity ratio of 1.04.

Chart Industries (NYSE:GTLS - Get Free Report) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $2.59 EPS for the quarter, missing analysts' consensus estimates of $2.62 by ($0.03). Chart Industries had a net margin of 6.29% and a return on equity of 13.71%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. As a group, equities analysts expect that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

About Chart Industries

Chart Industries, Inc engages in the designing, engineering, and manufacturing of process technologies and equipment for the gas and liquid molecules in the United States and internationally. The company operates in four segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.