Pier 88 Investment Partners LLC Sells 1,920 Shares of Chart Industries, Inc. (NYSE:GTLS)

Pier 88 Investment Partners LLC lowered its stake in shares of Chart Industries, Inc. (NYSE:GTLS - Free Report) by 33.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,870 shares of the industrial products company's stock after selling 1,920 shares during the quarter. Pier 88 Investment Partners LLC's holdings in Chart Industries were worth $559,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wolf Hill Capital Management LP bought a new stake in Chart Industries in the fourth quarter valued at $101,121,000. Norges Bank bought a new stake in shares of Chart Industries during the fourth quarter worth $88,609,000. Dimensional Fund Advisors LP grew its holdings in shares of Chart Industries by 37.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,064,637 shares of the industrial products company's stock worth $203,178,000 after purchasing an additional 291,520 shares during the last quarter. Engaged Capital LLC bought a new stake in shares of Chart Industries during the fourth quarter worth $42,900,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in Chart Industries by 920.6% in the fourth quarter. Frontier Capital Management Co. LLC now owns 234,069 shares of the industrial products company's stock valued at $44,670,000 after acquiring an additional 211,134 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GTLS. TD Cowen cut their target price on Chart Industries from $210.00 to $205.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley cut 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. The Goldman Sachs Group set a $180.00 target price on Chart Industries and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Barclays dropped their price target on Chart Industries from $171.00 to $169.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Finally, Wells Fargo & Company dropped their price target on Chart Industries from $214.00 to $208.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $199.82.

Chart Industries Stock Performance

Shares of NYSE GTLS traded up $1.41 during midday trading on Tuesday, hitting $168.70. 399,222 shares of the company's stock were exchanged, compared to its average volume of 786,443. The company has a quick ratio of 1.21, a current ratio of 1.51 and a debt-to-equity ratio of 1.18. Chart Industries, Inc. has a 12 month low of $101.60 and a 12 month high of $220.03. The company's 50 day moving average price is $159.61 and its 200 day moving average price is $165.08. The firm has a market capitalization of $7.71 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 0.65 and a beta of 1.68.

Chart Industries (NYSE:GTLS - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.02. The business had revenue of $1 billion during the quarter, compared to analysts' expectations of $1.02 billion. Chart Industries had a return on equity of 13.93% and a net margin of 5.93%. The firm's revenue for the quarter was up 38.8% compared to the same quarter last year. During the same period last year, the firm posted $1.49 EPS. As a group, analysts predict that Chart Industries, Inc. will post 9.02 earnings per share for the current fiscal year.

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.