PDT Partners LLC Decreases Stock Holdings in Gates Industrial Corp PLC (NYSE:GTES)

PDT Partners LLC lowered its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 51.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,734 shares of the company's stock after selling 96,414 shares during the period. PDT Partners LLC's holdings in Gates Industrial were worth $1,575,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Headlands Technologies LLC boosted its holdings in shares of Gates Industrial by 341.1% during 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 during the period. Venturi Wealth Management LLC lifted its holdings in Gates Industrial by 35.9% in 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 period. Capital Performance Advisors LLP bought a new stake in shares of Gates Industrial in the 3rd quarter worth approximately $67,000. GAMMA Investing LLC increased its stake in shares of Gates Industrial by 333.9% during the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company's stock valued at $68,000 after buying an additional 2,998 shares during the period. Finally, Covestor Ltd raised its holdings in shares of Gates Industrial by 26.3% during the third 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 own 98.50% of the company's stock.

Gates Industrial Stock Up 0.5 %

Shares of NYSE GTES traded up $0.12 during midday trading on Monday, hitting $22.28. The stock had a trading volume of 2,019,863 shares, compared to its average volume of 3,055,424. The business's 50 day moving average is $19.33 and its 200-day moving average is $17.74. Gates Industrial Corp PLC has a 52 week low of $11.22 and a 52 week high of $22.48. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. The company has a market cap of $5.68 billion, a P/E ratio of 26.70 and a beta of 1.38.

Analyst Ratings Changes

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

Gates Industrial Company 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.