Gates Industrial Corp PLC (NYSE:GTES) Stock Holdings Lowered by KLCM Advisors Inc.

KLCM Advisors Inc. lowered its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 718,687 shares of the company's stock after selling 27,573 shares during the period. Gates Industrial makes up about 1.7% of KLCM Advisors Inc.'s investment portfolio, making the stock its 20th largest position. KLCM Advisors Inc. owned approximately 0.28% of Gates Industrial worth $14,783,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GTES. Tectonic Advisors LLC boosted its holdings in Gates Industrial by 3.6% in the fourth quarter. Tectonic Advisors LLC now owns 20,852 shares of the company's stock valued at $429,000 after purchasing an additional 724 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Gates Industrial by 35.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock valued at $54,000 after buying an additional 814 shares during the last quarter. Covestor Ltd grew its position in shares of Gates Industrial by 26.3% during the third quarter. Covestor Ltd now owns 4,812 shares of the company's stock worth $84,000 after buying an additional 1,001 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Gates Industrial by 29.0% in the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company's stock worth $103,000 after buying an additional 1,130 shares during 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 valued at $253,000 after acquiring an additional 1,222 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Stock Performance

NYSE:GTES traded down $0.22 during midday trading on Thursday, reaching $23.30. 2,585,992 shares of the company traded hands, compared to its average volume of 2,360,215. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 31.91 and a beta of 1.37. The company has a fifty day moving average price of $21.08 and a 200 day moving average price of $19.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. Gates Industrial Corp PLC has a twelve month low of $13.37 and a twelve month high of $23.85.

Gates Industrial (NYSE:GTES - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.33 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%. On average, analysts expect that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of 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 lifted their price target on Gates Industrial from $25.00 to $27.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. KeyCorp upped their price objective on Gates Industrial from $23.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Barclays increased their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group boosted their price target on Gates Industrial from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.90.

About Gates Industrial

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.