Quantinno Capital Management LP Acquires 35,547 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Quantinno Capital Management LP lifted its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 21.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,264 shares of the company's stock after acquiring an additional 35,547 shares during the period. Quantinno Capital Management LP owned approximately 0.08% of Gates Industrial worth $3,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in GTES. Quarry LP acquired a new stake in shares of Gates Industrial in the 3rd quarter valued at $71,000. Maven Securities LTD lifted its position in shares of Gates Industrial by 41.7% during the 3rd quarter. Maven Securities LTD now owns 17,000 shares of the company's stock worth $298,000 after buying an additional 5,000 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Gates Industrial in the third quarter valued at about $179,000. Benjamin Edwards Inc. grew its position in Gates Industrial by 69.1% in the third quarter. Benjamin Edwards Inc. now owns 30,558 shares of the company's stock valued at $536,000 after acquiring an additional 12,482 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Gates Industrial during the third quarter worth about $583,000. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GTES. KeyCorp lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Morgan Stanley assumed coverage on shares of Gates Industrial in a report on Friday, September 6th. They set an "equal weight" rating and a $19.00 price target for the company. Citigroup raised their price objective on Gates Industrial from $24.00 to $27.00 and gave the company a "buy" rating in a report on Monday. Jefferies Financial Group increased their target price on Gates Industrial from $23.00 to $26.00 and gave the company a "buy" rating in a research report on Friday. Finally, Evercore ISI boosted their price target on Gates Industrial from $15.00 to $16.00 and gave the stock an "in-line" rating in a report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.00.

Gates Industrial Trading Down 1.2 %

NYSE GTES traded down $0.27 during mid-day trading on Monday, reaching $22.37. 2,352,300 shares of the stock were exchanged, compared to its average volume of 3,048,720. The stock has a market cap of $5.70 billion, a P/E ratio of 27.19 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11. Gates Industrial Corp PLC has a one year low of $11.65 and a one year high of $23.34. The stock has a 50 day simple moving average of $19.82 and a 200-day simple moving average of $17.92.

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.