Corebridge Financial Inc. Cuts Stock Position in Chart Industries, Inc. $GTLS

Key Points

• Corebridge Financial Inc. has reduced its stake in Chart Industries by 2.1%, owning 67,222 shares valued at approximately $9.7 million.
• Several hedge funds have increased their stakes in Chart Industries, with Janus Henderson Group PLC raising its stake by 2.2% and Dimensional Fund Advisors LP by 9.9%.
• Chart Industries reported earnings of $2.59 per share, missing analysts' expectations, and its stock has a consensus rating of "Hold" with a target price of $202.00.

Corebridge Financial Inc. reduced its holdings in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 2.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,222 shares of the industrial products company's stock after selling 1,438 shares during the quarter. Corebridge Financial Inc. owned approximately 0.15% of Chart Industries worth $9,704,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. OneDigital Investment Advisors LLC lifted its holdings in Chart Industries by 13.2% during the first quarter. OneDigital Investment Advisors LLC now owns 2,026 shares of the industrial products company's stock worth $292,000 after acquiring an additional 236 shares during the period. GAMMA Investing LLC lifted its holdings in Chart Industries by 118.6% during the first quarter. GAMMA Investing LLC now owns 1,270 shares of the industrial products company's stock worth $183,000 after acquiring an additional 689 shares during the period. Bank of New York Mellon Corp lifted its holdings in Chart Industries by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 308,963 shares of the industrial products company's stock worth $44,602,000 after acquiring an additional 6,681 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Chart Industries by 7.4% during the first quarter. Envestnet Asset Management Inc. now owns 57,617 shares of the industrial products company's stock worth $8,318,000 after acquiring an additional 3,948 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Chart Industries by 1.5% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,781 shares of the industrial products company's stock valued at $979,000 after buying an additional 98 shares during the period.

Chart Industries Stock Performance

Shares of NYSE:GTLS traded up $0.73 during midday trading on Monday, reaching $199.31. 1,679,724 shares of the company traded hands, compared to its average volume of 3,203,026. The company has a quick ratio of 1.27, a current ratio of 1.55 and a debt-to-equity ratio of 1.04. Chart Industries, Inc. has a 12 month low of $101.60 and a 12 month high of $220.03. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 37.05, a price-to-earnings-growth ratio of 1.15 and a beta of 1.67. The firm's fifty day moving average price is $181.55 and its two-hundred day moving average price is $162.30.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GTLS. Hsbc Global Res upgraded Chart Industries to a "hold" rating in a research note on Wednesday, July 30th. Johnson Rice lowered Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 target price on the stock. in a research note on Wednesday, July 30th. Raymond James Financial restated a "market perform" rating on shares of Chart Industries in a research note on Wednesday, July 30th. TD Cowen lowered Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. Finally, Morgan Stanley lowered their target price on Chart Industries from $250.00 to $225.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Five research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Chart Industries has a consensus rating of "Hold" and an average target price of $202.00.

Chart Industries Profile

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.