Natixis Advisors LLC raised its stake in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 27.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 217,494 shares of the company's stock after purchasing an additional 46,709 shares during the period. Natixis Advisors LLC owned 0.09% of Gates Industrial worth $4,474,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV grew its stake in shares of Gates Industrial by 35.1% during the 3rd quarter. KBC Group NV now owns 5,646 shares of the company's stock valued at $99,000 after acquiring an additional 1,468 shares during the period. CIBC Asset Management Inc purchased a new position in Gates Industrial during the third quarter valued at approximately $305,000. Mutual of America Capital Management LLC bought a new position in shares of Gates Industrial in the third quarter worth approximately $597,000. Swiss National Bank increased its stake in shares of Gates Industrial by 4.7% in the third quarter. Swiss National Bank now owns 408,200 shares of the company's stock worth $7,164,000 after purchasing an additional 18,500 shares in the last quarter. Finally, Pathstone Holdings LLC raised its position in shares of Gates Industrial by 39.2% during the 3rd quarter. Pathstone Holdings LLC now owns 81,708 shares of the company's stock valued at $1,434,000 after purchasing an additional 23,005 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. KeyCorp increased their target price on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Jefferies Financial Group boosted their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada increased their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Evercore ISI lifted their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.
Read Our Latest Analysis on GTES
Gates Industrial Price Performance
Shares of Gates Industrial stock traded down $0.31 during trading hours on Wednesday, reaching $19.77. The company's stock had a trading volume of 1,950,146 shares, compared to its average volume of 2,821,311. The firm has a 50 day moving average price of $20.83 and a 200-day moving average price of $20.12. 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 stock has a market cap of $5.05 billion, a P/E ratio of 27.08 and a beta of 1.33. Gates Industrial Corp PLC has a one year low of $15.14 and a one year high of $23.85.
Gates Industrial (NYSE:GTES - Get Free Report) last issued its quarterly earnings data 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 return on equity of 9.75% and a net margin of 5.72%. On average, analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current year.
Insider Activity at Gates Industrial
In other news, Director Fredrik J. Eliasson acquired 60,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was bought at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the purchase, the director now directly owns 188,452 shares of the company's stock, valued at $3,686,121.12. This represents a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.
Gates Industrial Profile
(
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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