Thrivent Financial for Lutherans Has $27.50 Million Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Thrivent Financial for Lutherans lifted its holdings in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 39.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,336,894 shares of the company's stock after purchasing an additional 378,477 shares during the quarter. Thrivent Financial for Lutherans owned about 0.52% of Gates Industrial worth $27,500,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Mutual of America Capital Management LLC bought a new stake in shares of Gates Industrial in the third quarter valued at about $597,000. Jennison Associates LLC lifted its stake in Gates Industrial by 45.9% in the 3rd quarter. Jennison Associates LLC now owns 4,032,089 shares of the company's stock valued at $70,763,000 after acquiring an additional 1,268,407 shares in the last quarter. Foundry Partners LLC acquired a new position in Gates Industrial during the 3rd quarter worth approximately $4,247,000. Verition Fund Management LLC grew its stake in shares of Gates Industrial by 322.7% during the 3rd quarter. Verition Fund Management LLC now owns 379,509 shares of the company's stock worth $6,660,000 after acquiring an additional 289,722 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Gates Industrial by 40.3% during the 3rd quarter. Stifel Financial Corp now owns 139,338 shares of the company's stock worth $2,445,000 after acquiring an additional 40,027 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on GTES shares. Barclays reduced their target price on shares of Gates Industrial from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, March 10th. Jefferies Financial Group raised their price objective on Gates Industrial from $23.00 to $26.00 and gave the company a "buy" rating in a report on Friday, December 6th. Royal Bank of Canada lifted their target price on Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. KeyCorp boosted 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. Finally, 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. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.11.

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Insiders Place Their Bets

In other news, Director Fredrik J. Eliasson acquired 60,000 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now directly owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. This represents a 46.71 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company's stock.

Gates Industrial Stock Performance

GTES traded up $0.03 during trading hours on Tuesday, reaching $20.07. The company's stock had a trading volume of 2,031,212 shares, compared to its average volume of 2,824,071. The company's 50-day moving average is $20.84 and its 200-day moving average is $20.09. Gates Industrial Corp PLC has a 52 week low of $15.14 and a 52 week high of $23.85. The firm has a market cap of $5.13 billion, a PE ratio of 27.49 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20.

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

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.