Deutsche Bank AG Lowers Position in Chart Industries, Inc. $GTLS

Key Points

• Deutsche Bank AG reduced its stake in Chart Industries, Inc. by 12.3%, owning approximately 0.34% of the company after selling 21,399 shares in the first quarter.
• Chart Industries reported earnings of $2.59 per share, missing estimates, with revenue of $1.08 billion against an expected $1.11 billion for the quarter.
• A number of analysts have downgraded Chart Industries, setting a consensus "Hold" rating and a price target of $202.00.

Deutsche Bank AG lessened its holdings in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,045 shares of the industrial products company's stock after selling 21,399 shares during the quarter. Deutsche Bank AG owned approximately 0.34% of Chart Industries worth $21,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Chart Industries by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 536,423 shares of the industrial products company's stock worth $77,438,000 after purchasing an additional 18,338 shares during the period. Primecap Management Co. CA grew its stake in shares of Chart Industries by 19.0% in the first quarter. Primecap Management Co. CA now owns 181,415 shares of the industrial products company's stock worth $26,189,000 after acquiring an additional 29,015 shares during the last quarter. Horizon Family Wealth Inc. grew its stake in shares of Chart Industries by 8.4% in the first quarter. Horizon Family Wealth Inc. now owns 2,382 shares of the industrial products company's stock worth $344,000 after acquiring an additional 185 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Chart Industries in the first quarter worth $1,228,000. Finally, Argent Trust Co grew its stake in shares of Chart Industries by 6.3% in the first quarter. Argent Trust Co now owns 3,373 shares of the industrial products company's stock worth $487,000 after acquiring an additional 199 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently commented on GTLS. Raymond James Financial reissued a "market perform" rating on shares of Chart Industries in a research note on Wednesday, July 30th. Barclays cut their target price on Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Craig Hallum cut Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Johnson Rice cut 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. Finally, Lake Street Capital cut Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective on the stock. in a research report on Wednesday, July 30th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $202.00.

Chart Industries Stock Performance

Shares of NYSE GTLS traded up $0.46 during trading on Monday, hitting $198.68. The company had a trading volume of 799,062 shares, compared to its average volume of 1,330,403. The stock has a 50 day simple moving average of $171.04 and a 200 day simple moving average of $162.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.27 and a current ratio of 1.55. 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 $8.93 billion, a P/E ratio of 36.93, a price-to-earnings-growth ratio of 1.15 and a beta of 1.59.

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

Chart Industries Company 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.