Amundi Takes $2.48 Million Position in Gates Industrial Corp PLC (NYSE:GTES)

Amundi acquired a new position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 123,334 shares of the company's stock, valued at approximately $2,480,000.

Several other institutional investors have also recently added to or reduced their stakes in GTES. Assetmark Inc. grew its stake in shares of Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company's stock valued at $32,000 after buying an additional 1,514 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company's stock valued at $51,000 after acquiring an additional 1,598 shares during the period. SRS Capital Advisors Inc. grew its position in Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after acquiring an additional 724 shares in the last quarter. Quarry LP purchased a new stake in Gates Industrial during the third quarter worth about $71,000. Finally, KBC Group NV lifted its position in shares of Gates Industrial by 35.1% during the third quarter. KBC Group NV now owns 5,646 shares of the company's stock worth $99,000 after purchasing an additional 1,468 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Gates Industrial Stock Up 0.3 %

Shares of GTES traded up $0.06 during mid-day trading on Thursday, reaching $19.66. The company's stock had a trading volume of 2,360,795 shares, compared to its average volume of 2,838,269. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. Gates Industrial Corp PLC has a 12-month low of $15.14 and a 12-month high of $23.85. The stock has a market cap of $5.02 billion, a PE ratio of 26.94 and a beta of 1.33. The company's 50 day moving average is $20.86 and its 200 day moving average is $20.02.

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Gates Industrial (NYSE:GTES - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. Equities analysts anticipate that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Barclays cut their price objective on Gates Industrial from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th. Evercore ISI lifted their target price on Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. KeyCorp upped their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group reduced their price target on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.11.

Insider Buying and Selling

In other news, Director Fredrik J. Eliasson purchased 60,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the transaction, the director now directly owns 188,452 shares in the company, valued at approximately $3,686,121.12. This represents a 46.71 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.