Pathstone Holdings LLC Buys 23,005 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Pathstone Holdings LLC lifted its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 39.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 81,708 shares of the company's stock after acquiring an additional 23,005 shares during the quarter. Pathstone Holdings LLC's holdings in Gates Industrial were worth $1,434,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC grew its stake in Gates Industrial by 341.1% in the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company's stock worth $27,000 after purchasing an additional 1,320 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Gates Industrial by 35.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock worth $54,000 after buying an additional 814 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Gates Industrial in the 3rd quarter worth approximately $67,000. GAMMA Investing LLC increased its holdings in shares of Gates Industrial by 333.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,896 shares of the company's stock valued at $68,000 after acquiring an additional 2,998 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Gates Industrial by 26.3% during the 3rd quarter. Covestor Ltd now owns 4,812 shares of the company's stock valued at $84,000 after acquiring an additional 1,001 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Gates Industrial Stock Performance

Shares of GTES stock traded up $0.04 during trading on Friday, reaching $22.16. The company had a trading volume of 775,395 shares, compared to its average volume of 3,059,907. The firm's 50 day simple moving average is $19.24 and its two-hundred day simple moving average is $17.69. Gates Industrial Corp PLC has a one year low of $11.22 and a one year high of $22.43. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11. The company has a market capitalization of $5.64 billion, a PE ratio of 26.65 and a beta of 1.38.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Gates Industrial in a research note on Friday, September 6th. They set an "equal weight" rating and a $19.00 price objective on the stock. The Goldman Sachs Group upped their target price on shares of Gates Industrial from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, August 1st. Evercore ISI boosted their price objective on Gates Industrial from $15.00 to $16.00 and gave the stock an "in-line" rating in a research report on Monday, August 19th. Robert W. Baird lowered their target price on Gates Industrial from $26.00 to $22.00 and set an "outperform" rating on the stock in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upgraded Gates Industrial from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $20.00 to $22.00 in a research report on Monday, August 19th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.40.

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.