Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC increased its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 25.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 170,785 shares of the company's stock after buying an additional 34,461 shares during the period. Natixis Advisors LLC owned about 0.07% of Gates Industrial worth $2,997,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GTES. Headlands Technologies LLC lifted its holdings in Gates Industrial by 341.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,707 shares of the company's stock worth $27,000 after buying an additional 1,320 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock worth $54,000 after purchasing an additional 814 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Gates Industrial during the third quarter worth approximately $67,000. GAMMA Investing LLC boosted its holdings in Gates Industrial by 333.9% in the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company's stock valued at $68,000 after purchasing an additional 2,998 shares in the last quarter. Finally, Covestor Ltd increased its stake in Gates Industrial by 26.3% in the third quarter. Covestor Ltd now owns 4,812 shares of the company's stock valued at $84,000 after purchasing an additional 1,001 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Ratings Changes

GTES has been the topic of a number of recent analyst reports. Barclays increased their target price on shares of Gates Industrial from $16.00 to $21.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their target price on Gates Industrial from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Morgan Stanley began coverage on Gates Industrial in a research note on Friday, September 6th. They set an "equal weight" rating and a $19.00 price target on the stock. KeyCorp boosted their price objective on Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Royal Bank of Canada upgraded shares of Gates Industrial from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $20.00 to $22.00 in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $20.40.

Gates Industrial Stock Performance

GTES traded up $0.15 during trading on Monday, hitting $22.14. The stock had a trading volume of 3,235,247 shares, compared to its average volume of 3,074,236. Gates Industrial Corp PLC has a twelve month low of $11.22 and a twelve month high of $22.31. The firm has a market capitalization of $5.64 billion, a P/E ratio of 26.67 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.11 and a current ratio of 3.02. The company's 50-day moving average price is $18.87 and its 200 day moving average price is $17.55.

Gates Industrial declared that its board has authorized a share buyback program on Wednesday, July 31st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.

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.