30,874 Shares in Gates Industrial Corp PLC (NYSE:GTES) Acquired by Empirical Finance LLC

Empirical Finance LLC bought a new stake in Gates Industrial Corp PLC (NYSE:GTES - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 30,874 shares of the company's stock, valued at approximately $635,000.

Several other hedge funds also recently made changes to their positions in GTES. Tectonic Advisors LLC increased its position in Gates Industrial by 3.6% during the 4th quarter. Tectonic Advisors LLC now owns 20,852 shares of the company's stock valued at $429,000 after buying an additional 724 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Gates Industrial by 35.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock worth $54,000 after purchasing an additional 814 shares during the last quarter. Covestor Ltd grew its position in Gates Industrial by 26.3% during 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. GAMMA Investing LLC increased its stake in Gates Industrial by 29.0% during the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company's stock valued at $103,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Fort L.P. raised its holdings in Gates Industrial by 9.3% in the third quarter. Fort L.P. now owns 14,423 shares of the company's stock worth $253,000 after buying an additional 1,222 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GTES. The Goldman Sachs Group increased their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Barclays upgraded Gates Industrial from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $21.00 to $25.00 in a research note on Thursday, December 5th. Jefferies Financial Group upped their price target on Gates Industrial from $23.00 to $26.00 and gave the company a "buy" rating in a report on Friday, December 6th. KeyCorp lifted their price objective on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Citigroup decreased their target price 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $23.00.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded down $0.21 during trading on Tuesday, hitting $22.36. The company's stock had a trading volume of 2,468,540 shares, compared to its average volume of 2,367,420. 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 firm has a market cap of $5.70 billion, a price-to-earnings ratio of 30.63 and a beta of 1.37. The company has a 50-day moving average of $21.02 and a 200-day moving average of $19.34. Gates Industrial Corp PLC has a 12 month low of $12.41 and a 12 month high of $23.34.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, hitting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.65%. On average, sell-side analysts expect that Gates Industrial Corp PLC will post 1.4 earnings per share for the current year.

Gates Industrial 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.