MetLife Investment Management LLC Cuts Stake in Chart Industries, Inc. $GTLS

Key Points

• MetLife Investment Management LLC reduced its holdings in Chart Industries, Inc. by 2.6% in Q1, selling 1,284 shares and holding a total of 47,564 shares worth $6,866,000.
• Chart Industries reported Q2 earnings of $2.59 per share, missing expectations, and had a revenue of $1.08 billion, below the projected $1.11 billion.
• Analyst ratings for Chart Industries vary, with five analysts rating it a Buy and twelve rating it a Hold, reflecting a consensus price target of $202.00.

MetLife Investment Management LLC lessened its stake in Chart Industries, Inc. (NYSE:GTLS - Free Report) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,564 shares of the industrial products company's stock after selling 1,284 shares during the period. MetLife Investment Management LLC owned about 0.10% of Chart Industries worth $6,866,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GTLS. Penn Capital Management Company LLC boosted its holdings in Chart Industries by 23.7% in the first quarter. Penn Capital Management Company LLC now owns 122,430 shares of the industrial products company's stock valued at $17,721,000 after acquiring an additional 23,447 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Chart Industries in the 1st quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. increased its position in Chart Industries by 302.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 23,780 shares of the industrial products company's stock valued at $3,433,000 after buying an additional 17,872 shares in the last quarter. AlphaQuest LLC acquired a new position in Chart Industries during the 1st quarter worth approximately $77,000. Finally, EntryPoint Capital LLC bought a new position in Chart Industries in the first quarter worth approximately $372,000.

Chart Industries Stock Down 0.1%

GTLS stock traded down $0.23 during trading on Tuesday, reaching $199.14. The stock had a trading volume of 1,492,692 shares, compared to its average volume of 2,740,509. The company has a quick ratio of 1.27, a current ratio of 1.55 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $8.95 billion, a price-to-earnings ratio of 37.01, a P/E/G ratio of 1.15 and a beta of 1.67. Chart Industries, Inc. has a one year low of $101.60 and a one year high of $220.03. The company's 50 day moving average is $183.67 and its two-hundred day moving average is $162.59.

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 firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.11 billion. Equities research analysts forecast that Chart Industries, Inc. will post 9.02 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GTLS. Lake Street Capital downgraded Chart Industries from a "strong-buy" rating to a "hold" rating and set a $210.00 price objective for the company. in a report on Wednesday, July 30th. UBS Group restated a "neutral" rating and set a $210.00 price objective (down previously from $225.00) on shares of Chart Industries in a report on Wednesday, July 30th. BTIG Research lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 1st. The Goldman Sachs Group set a $180.00 target price on shares of Chart Industries and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Finally, Craig Hallum lowered shares of Chart Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 29th. Five equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus 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.