Charles Schwab Investment Management Inc. Has $50.50 Million Position in Gates Industrial Corp PLC (NYSE:GTES)

Charles Schwab Investment Management Inc. grew its stake in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,454,969 shares of the company's stock after purchasing an additional 123,859 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.96% of Gates Industrial worth $50,499,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in GTES. Amalgamated Bank grew its holdings in shares of Gates Industrial by 93.5% during the third quarter. Amalgamated Bank now owns 69,664 shares of the company's stock valued at $1,223,000 after purchasing an additional 33,668 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Gates Industrial by 6,879.6% during the third quarter. Principal Financial Group Inc. now owns 1,063,838 shares of the company's stock valued at $18,670,000 after purchasing an additional 1,048,596 shares during the last quarter. Covestor Ltd grew its holdings in shares of Gates Industrial by 26.3% during the third quarter. Covestor Ltd now owns 4,812 shares of the company's stock valued at $84,000 after purchasing an additional 1,001 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Gates Industrial by 7.0% during the third quarter. Crossmark Global Holdings Inc. now owns 53,079 shares of the company's stock valued at $931,000 after purchasing an additional 3,459 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Gates Industrial by 2.8% during the third quarter. State of New Jersey Common Pension Fund D now owns 110,629 shares of the company's stock valued at $1,942,000 after purchasing an additional 3,061 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

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Insider Activity

In related news, Director Fredrik J. Eliasson acquired 60,000 shares of the business's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. The trade was a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup reduced their price objective on Gates Industrial from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Barclays reduced their price objective on Gates Industrial from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. KeyCorp boosted their price objective on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. The Goldman Sachs Group boosted their price objective on Gates Industrial from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Finally, Jefferies Financial Group boosted their price objective on Gates Industrial from $23.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Gates Industrial presently has an average rating of "Moderate Buy" and a consensus target price of $24.22.

Gates Industrial Price Performance

GTES traded up $0.91 during trading on Friday, reaching $19.71. The stock had a trading volume of 2,478,809 shares, compared to its average volume of 2,866,198. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 26.99 and a beta of 1.33. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. Gates Industrial Corp PLC has a 1-year low of $15.14 and a 1-year high of $23.85. The stock has a 50 day moving average of $20.92 and a two-hundred day moving average of $20.00.

Gates Industrial (NYSE:GTES - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, hitting analysts' consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. As a group, equities analysts anticipate that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

About Gates Industrial

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.