Hantz Financial Services Inc. Grows Stock Position in Gates Industrial Corp PLC (NYSE:GTES)

Hantz Financial Services Inc. raised its stake in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 226.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 55,973 shares of the company's stock after purchasing an additional 38,816 shares during the quarter. Hantz Financial Services Inc.'s holdings in Gates Industrial were worth $982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Gates Industrial by 67.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,668 shares of the company's stock valued at $1,093,000 after buying an additional 24,946 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Gates Industrial by 33.1% during the first quarter. Public Employees Retirement System of Ohio now owns 65,879 shares of the company's stock valued at $1,167,000 after buying an additional 16,398 shares during the period. California State Teachers Retirement System increased its stake in shares of Gates Industrial by 15.8% during the first quarter. California State Teachers Retirement System now owns 171,137 shares of the company's stock valued at $3,031,000 after buying an additional 23,291 shares during the period. Tidal Investments LLC increased its stake in shares of Gates Industrial by 11.3% during the first quarter. Tidal Investments LLC now owns 53,384 shares of the company's stock valued at $945,000 after buying an additional 5,402 shares during the period. Finally, First Hawaiian Bank purchased a new stake in Gates Industrial in the second quarter worth $520,000. Institutional investors own 98.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GTES shares. Evercore ISI upped their price target on Gates Industrial from $15.00 to $16.00 and gave the stock an "in-line" rating in a research note on Monday, August 19th. Royal Bank of Canada raised Gates Industrial from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $20.00 to $22.00 in a research note on Monday, August 19th. KeyCorp raised their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Barclays increased their target price on Gates Industrial from $16.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley began coverage on shares of Gates Industrial in a research report on Friday, September 6th. They set an "equal weight" rating and a $19.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.40.

Gates Industrial Stock Performance

Gates Industrial stock traded up $0.12 during mid-day trading on Monday, reaching $22.28. 2,019,863 shares of the company traded hands, compared to its average volume of 3,055,424. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11. Gates Industrial Corp PLC has a fifty-two week low of $11.22 and a fifty-two week high of $22.48. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 26.70 and a beta of 1.38. The firm's fifty day moving average is $19.33 and its two-hundred day moving average is $17.74.

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.