Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by Swiss National Bank

Swiss National Bank raised its position in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 16.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 474,800 shares of the company's stock after purchasing an additional 66,600 shares during the quarter. Swiss National Bank owned 0.19% of Gates Industrial worth $9,767,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Tectonic Advisors LLC raised its holdings in shares of Gates Industrial by 3.6% in the fourth quarter. Tectonic Advisors LLC now owns 20,852 shares of the company's stock worth $429,000 after buying an additional 724 shares during the period. SRS Capital Advisors Inc. grew its position in Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after acquiring an additional 724 shares during the last quarter. Amalgamated Bank increased its stake in Gates Industrial by 1.5% in the fourth quarter. Amalgamated Bank now owns 70,711 shares of the company's stock worth $1,455,000 after purchasing an additional 1,047 shares during the period. GAMMA Investing LLC lifted its position in shares of Gates Industrial by 29.0% during the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company's stock worth $103,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Gates Industrial by 14.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 9,005 shares of the company's stock valued at $184,000 after purchasing an additional 1,140 shares during the period. Institutional investors own 98.50% of the company's stock.

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Insider Buying and Selling at Gates Industrial

In related news, Director Fredrik J. Eliasson bought 60,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the transaction, the director now owns 188,452 shares in the company, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Gates Industrial Stock Down 1.5 %

Shares of NYSE GTES traded down $0.31 during trading hours on Wednesday, hitting $19.77. 1,950,146 shares of the stock were exchanged, compared to its average volume of 2,714,410. Gates Industrial Corp PLC has a 12 month low of $15.14 and a 12 month high of $23.85. The firm has a fifty day moving average price of $20.83 and a 200-day moving average price of $20.12. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.05 billion, a PE ratio of 27.08 and a beta of 1.33.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GTES shares. Jefferies Financial Group upped their target price 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. The Goldman Sachs Group decreased their target price on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. KeyCorp increased their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their price objective on Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, Barclays cut their target price on shares of Gates Industrial from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

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.