American Century Companies Inc. decreased its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,456,964 shares of the company's stock after selling 383,943 shares during the quarter. American Century Companies Inc. owned approximately 2.14% of Gates Industrial worth $112,250,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of GTES. Mutual of America Capital Management LLC acquired a new stake in shares of Gates Industrial during the 3rd quarter worth approximately $597,000. Verition Fund Management LLC grew its stake in Gates Industrial by 322.7% during the 3rd quarter. Verition Fund Management LLC now owns 379,509 shares of the company's stock worth $6,660,000 after buying an additional 289,722 shares during the last quarter. Stifel Financial Corp increased its position in Gates Industrial by 40.3% in the third quarter. Stifel Financial Corp now owns 139,338 shares of the company's stock worth $2,445,000 after buying an additional 40,027 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Gates Industrial by 22.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,331,110 shares of the company's stock valued at $40,911,000 after buying an additional 428,297 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Gates Industrial by 29.1% in the fourth quarter. Park Avenue Securities LLC now owns 49,939 shares of the company's stock valued at $1,027,000 after buying an additional 11,251 shares during the last quarter. Institutional investors own 98.50% of the company's stock.
Gates Industrial Price Performance
GTES traded down $0.34 during trading on Thursday, reaching $19.41. The stock had a trading volume of 2,146,763 shares, compared to its average volume of 2,819,438. The stock has a 50 day moving average of $20.83 and a two-hundred day moving average of $20.11. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 26.59 and a beta of 1.33. Gates Industrial Corp PLC has a 1-year low of $15.14 and a 1-year high of $23.85.
Gates Industrial (NYSE:GTES - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate 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.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on GTES shares. KeyCorp increased their price objective on shares of Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Royal Bank of Canada raised their price target 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. 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. Evercore ISI raised their target price on Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their price target on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Gates Industrial currently has an average rating of "Moderate Buy" and a consensus target price of $24.00.
View Our Latest Stock Report on Gates Industrial
Insider Buying and Selling at Gates Industrial
In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the acquisition, the director now owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. This represents a 46.71 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.
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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