WINTON GROUP Ltd cut its holdings in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 90.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,788 shares of the company's stock after selling 359,759 shares during the period. WINTON GROUP Ltd's holdings in Gates Industrial were worth $777,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in GTES. Charles Schwab Investment Management Inc. boosted its holdings in Gates Industrial by 22.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,331,110 shares of the company's stock valued at $40,911,000 after purchasing an additional 428,297 shares during the period. Citigroup Inc. grew its position in Gates Industrial by 38.4% during the third quarter. Citigroup Inc. now owns 245,335 shares of the company's stock worth $4,306,000 after buying an additional 68,130 shares in the last quarter. Cerity Partners LLC grew its position in Gates Industrial by 15.1% during the third quarter. Cerity Partners LLC now owns 176,382 shares of the company's stock worth $3,096,000 after buying an additional 23,175 shares in the last quarter. FMR LLC raised its holdings in Gates Industrial by 4.5% in the 3rd quarter. FMR LLC now owns 13,059,271 shares of the company's stock valued at $229,190,000 after acquiring an additional 562,643 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of Gates Industrial by 17.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 53,001 shares of the company's stock worth $930,000 after acquiring an additional 8,049 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on GTES. Evercore ISI boosted their price objective 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. Citigroup reduced their price objective on shares of Gates Industrial from $27.00 to $24.00 and set a "buy" rating for the company in a report on Monday, January 13th. Barclays lowered their target price on shares of Gates Industrial from $26.00 to $25.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Royal Bank of Canada raised their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, KeyCorp increased their target price on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.00.
Check Out Our Latest Stock Report on Gates Industrial
Insiders Place Their Bets
In other Gates Industrial news, Director Fredrik J. Eliasson acquired 60,000 shares of Gates Industrial stock in a transaction on Friday, March 7th. The shares were purchased 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 owns 188,452 shares in the company, valued at $3,686,121.12. The trade was a 46.71 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.30% of the company's stock.
Gates Industrial Price Performance
GTES traded down $2.78 during trading on Thursday, hitting $16.46. The company's stock had a trading volume of 723,051 shares, compared to its average volume of 2,639,952. The firm's 50 day moving average price is $20.66 and its two-hundred day moving average price is $20.19. 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 stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 22.55 and a beta of 1.24. Gates Industrial Corp PLC has a 12 month low of $15.14 and a 12 month high of $23.85.
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 (EPS) 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 9.75%. Sell-side analysts forecast that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal 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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