Bridgewater Associates LP trimmed its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 73.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,389 shares of the company's stock after selling 39,251 shares during the period. Bridgewater Associates LP's holdings in Gates Industrial were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Gates Industrial by 67.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,668 shares of the company's stock valued at $1,093,000 after purchasing an additional 24,946 shares during the period. California State Teachers Retirement System raised its holdings in shares of Gates Industrial by 15.8% during the first quarter. California State Teachers Retirement System now owns 171,137 shares of the company's stock worth $3,031,000 after purchasing an additional 23,291 shares during the period. Tidal Investments LLC raised its holdings in shares of Gates Industrial by 11.3% during the first quarter. Tidal Investments LLC now owns 53,384 shares of the company's stock worth $945,000 after purchasing an additional 5,402 shares during the period. Mather Group LLC. lifted its position in shares of Gates Industrial by 19,549.6% in the 2nd quarter. Mather Group LLC. now owns 24,169 shares of the company's stock worth $382,000 after buying an additional 24,046 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of Gates Industrial by 172.6% in the 2nd quarter. Park Avenue Securities LLC now owns 65,962 shares of the company's stock valued at $1,043,000 after buying an additional 41,762 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have weighed in on GTES shares. Evercore ISI lifted their target price on Gates Industrial from $15.00 to $16.00 and gave the company an "in-line" rating in a research note on Monday, August 19th. KeyCorp increased their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Royal Bank of Canada raised shares of Gates Industrial from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $20.00 to $22.00 in a research note on Monday, August 19th. Morgan Stanley started coverage on shares of Gates Industrial in a research note on Friday, September 6th. They set an "equal weight" rating and a $19.00 price objective on the stock. Finally, Barclays upped their target price on Gates Industrial from $16.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Gates Industrial currently has an average rating of "Moderate Buy" and a consensus target price of $20.40.
View Our Latest Report on GTES
Gates Industrial Stock Down 0.9 %
Shares of GTES stock traded down $0.21 on Wednesday, hitting $22.20. The company's stock had a trading volume of 1,296,909 shares, compared to its average volume of 3,044,869. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 27.14 and a beta of 1.38. The firm's fifty day moving average price is $19.51 and its 200-day moving average price is $17.81. Gates Industrial Corp PLC has a fifty-two week low of $11.22 and a fifty-two week high of $22.56.
About Gates Industrial
(
Free Report)
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.
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