Eastern Bank Raises Position in Chart Industries, Inc. (NYSE:GTLS)

Eastern Bank boosted its holdings in Chart Industries, Inc. (NYSE:GTLS) by 58.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,147 shares of the industrial products company’s stock after purchasing an additional 32,575 shares during the period. Eastern Bank’s holdings in Chart Industries were worth $12,725,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. First Manhattan CO. LLC. lifted its stake in shares of Chart Industries by 3.1% in the 4th quarter. First Manhattan CO. LLC. now owns 1,779 shares of the industrial products company’s stock valued at $340,000 after acquiring an additional 54 shares during the last quarter. Xponance Inc. increased its stake in Chart Industries by 1.4% in the 1st quarter. Xponance Inc. now owns 6,116 shares of the industrial products company’s stock worth $883,000 after purchasing an additional 85 shares during the period. Oppenheimer Asset Management Inc. lifted its position in 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 purchasing an additional 98 shares during the last quarter. Global X Japan Co. Ltd. lifted its position in Chart Industries by 142.9% in the first quarter. Global X Japan Co. Ltd. now owns 170 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of Chart Industries by 1.0% during the first quarter. State of Michigan Retirement System now owns 10,100 shares of the industrial products company’s stock valued at $1,458,000 after purchasing an additional 100 shares during the period.

Chart Industries Stock Performance

Shares of GTLS opened at $198.73 on Wednesday. The company has a 50-day simple moving average of $160.07 and a two-hundred day simple moving average of $164.06. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.51 and a quick ratio of 1.21. The firm has a market capitalization of $9.08 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 0.67 and a beta of 1.68. Chart Industries, Inc. has a one year low of $101.60 and a one year high of $220.03.

Chart Industries (NYSE:GTLS) last announced its earnings results on Thursday, July 31st. The industrial products company reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.03). Chart Industries had a return on equity of 13.93% and a net margin of 5.93%. On average, analysts anticipate that Chart Industries, Inc. will post 9.02 EPS for the current fiscal year.

Analysts Set New Price Targets

GTLS has been the topic of several analyst reports. 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 note on Wednesday, May 28th. Morgan Stanley decreased their price objective on shares of Chart Industries from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. TD Cowen dropped their target price on shares of Chart Industries from $210.00 to $205.00 and set a “buy” rating for the company in a report on Friday, May 2nd. 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. Finally, Stifel Nicolaus dropped their price objective on Chart Industries from $231.00 to $214.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $199.82.

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.