Gates Industrial Corp PLC (NYSE:GTES) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,772,369 shares of the company's stock after selling 745,350 shares during the period. Vanguard Group Inc. owned 9.73% of Gates Industrial worth $509,568,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Tectonic Advisors LLC grew its position 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 valued at $429,000 after purchasing an additional 724 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock worth $54,000 after buying an additional 724 shares during the last quarter. Amalgamated Bank grew its holdings in Gates Industrial by 1.5% in the 4th quarter. Amalgamated Bank now owns 70,711 shares of the company's stock valued at $1,455,000 after buying an additional 1,047 shares in the last quarter. GAMMA Investing LLC grew its holdings in Gates Industrial by 29.0% in the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company's stock valued at $103,000 after buying an additional 1,130 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Gates Industrial by 14.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 9,005 shares of the company's stock worth $184,000 after acquiring an additional 1,140 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

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Insider Activity

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

Gates Industrial Stock Down 6.5 %

NYSE:GTES traded down $1.11 during trading hours on Friday, hitting $15.78. The company's stock had a trading volume of 5,745,275 shares, compared to its average volume of 2,940,118. Gates Industrial Corp PLC has a 52-week low of $15.11 and a 52-week high of $23.85. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $4.03 billion, a P/E ratio of 21.61 and a beta of 1.24. The stock has a fifty day moving average of $20.48 and a 200-day moving average of $20.20.

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

Analysts Set New Price Targets

GTES has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays cut their price target on shares of Gates Industrial from $26.00 to $25.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. KeyCorp lifted their price target on shares of Gates Industrial from $23.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Evercore ISI increased their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group reduced their target price on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Gates Industrial has an average rating of "Moderate Buy" and an average price target 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.