Gates Industrial Corp PLC (NYSE:GTES) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,331,110 shares of the company's stock after purchasing an additional 428,297 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.92% of Gates Industrial worth $40,911,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GTES. Venturi Wealth Management LLC raised its position in shares of Gates Industrial by 35.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock valued at $54,000 after buying an additional 814 shares in the last quarter. Bank of Montreal Can raised its position in Gates Industrial by 2.5% during the second quarter. Bank of Montreal Can now owns 33,800 shares of the company's stock valued at $535,000 after purchasing an additional 823 shares during the period. Covestor Ltd lifted its stake in shares of Gates Industrial by 26.3% in the 3rd 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. Tectonic Advisors LLC boosted its holdings in shares of Gates Industrial by 5.5% in the 3rd quarter. Tectonic Advisors LLC now owns 20,128 shares of the company's stock worth $353,000 after purchasing an additional 1,043 shares during the period. Finally, Fort L.P. increased its position in shares of Gates Industrial by 9.3% during the 3rd quarter. Fort L.P. now owns 14,423 shares of the company's stock valued at $253,000 after purchasing an additional 1,222 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Gates Industrial Stock Up 0.5 %

Shares of NYSE:GTES traded up $0.12 during trading hours on Tuesday, hitting $22.40. The company's stock had a trading volume of 2,406,123 shares, compared to its average volume of 3,052,127. The firm's fifty day moving average price is $19.42 and its 200 day moving average price is $17.78. Gates Industrial Corp PLC has a 52 week low of $11.22 and a 52 week high of $22.53. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 27.00 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11.

Analyst Upgrades and Downgrades

GTES has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of Gates Industrial from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $20.00 to $22.00 in a research report on Monday, August 19th. KeyCorp raised their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Morgan Stanley initiated coverage on Gates Industrial in a research report on Friday, September 6th. They set an "equal weight" rating and a $19.00 target price for the company. Barclays increased their price target on Gates Industrial from $16.00 to $21.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, Evercore ISI boosted their price objective on Gates Industrial from $15.00 to $16.00 and gave the company an "in-line" rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.40.

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.