New Age Alpha Advisors LLC Invests $5.84 Million in Gates Industrial Corp PLC (NYSE:GTES)

New Age Alpha Advisors LLC bought a new position in Gates Industrial Corp PLC (NYSE:GTES - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 284,106 shares of the company's stock, valued at approximately $5,844,000. New Age Alpha Advisors LLC owned about 0.11% of Gates Industrial as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. raised its holdings in shares of Gates Industrial by 2,968.6% in the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company's stock worth $32,000 after purchasing an additional 1,514 shares during the period. Versant Capital Management Inc lifted its position in Gates Industrial by 178.3% during the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company's stock valued at $51,000 after buying an additional 1,598 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock worth $54,000 after buying an additional 724 shares during the period. Quarry LP purchased a new position in Gates Industrial in the third quarter valued at about $71,000. Finally, GAMMA Investing LLC boosted its position 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 period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

Shares of Gates Industrial stock traded up $0.43 during trading hours on Wednesday, reaching $19.00. The company's stock had a trading volume of 463,433 shares, compared to its average volume of 2,641,475. Gates Industrial Corp PLC has a one year low of $15.14 and a one year high of $23.85. The company's 50 day simple moving average is $20.68 and its 200 day simple moving average is $20.20. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The stock has a market cap of $4.85 billion, a P/E ratio of 26.03 and a beta of 1.33.

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Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting analysts' consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. As a group, analysts expect that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank of Canada boosted their price target on Gates Industrial from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. The Goldman Sachs Group decreased their target price on shares of Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. Jefferies Financial Group lifted their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Barclays decreased their price objective on shares of Gates Industrial from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Finally, KeyCorp boosted their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Gates Industrial has an average rating of "Moderate Buy" and a consensus price target of $24.00.

Insider Buying and Selling

In other news, Director Fredrik J. Eliasson bought 60,000 shares of Gates Industrial stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the purchase, the director now directly owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by company insiders.

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.