Dimensional Fund Advisors LP cut its stake in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,527,861 shares of the company's stock after selling 34,245 shares during the quarter. Dimensional Fund Advisors LP owned 4.92% of Gates Industrial worth $257,697,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of GTES. Fiduciary Management Inc. WI raised its holdings in shares of Gates Industrial by 0.3% during the fourth quarter. Fiduciary Management Inc. WI now owns 7,224,844 shares of the company's stock valued at $148,615,000 after acquiring an additional 21,191 shares during the period. GeoWealth Management LLC raised its stake in Gates Industrial by 187.4% during the 4th quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock valued at $25,000 after purchasing an additional 789 shares during the period. Commerce Bank purchased a new stake in shares of Gates Industrial in the fourth quarter valued at $375,000. Dean Investment Associates LLC boosted its position in shares of Gates Industrial by 4.5% in the fourth quarter. Dean Investment Associates LLC now owns 126,333 shares of the company's stock worth $2,599,000 after buying an additional 5,468 shares during the period. Finally, Portolan Capital Management LLC purchased a new position in shares of Gates Industrial during the fourth quarter valued at $22,982,000. 98.50% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Gates Industrial news, Director Fredrik J. Eliasson bought 60,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the purchase, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on GTES shares. Citigroup decreased their price objective on Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Barclays lowered their price objective on shares of Gates Industrial from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. KeyCorp dropped their price objective on shares of Gates Industrial from $27.00 to $21.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Royal Bank of Canada lifted their target price on shares of Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group lowered their price target on shares of Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.67.
View Our Latest Analysis on Gates Industrial
Gates Industrial Stock Down 0.3 %
NYSE:GTES traded down $0.05 during trading hours on Friday, reaching $17.95. The company's stock had a trading volume of 2,426,117 shares, compared to its average volume of 2,981,774. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85. The business's 50-day moving average is $19.03 and its 200-day moving average is $20.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 24.59 and a beta of 1.24.
Gates Industrial (NYSE:GTES - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting analysts' consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. Equities research analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current year.
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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