Centiva Capital LP Purchases Shares of 33,713 Gates Industrial Corp PLC (NYSE:GTES)

Centiva Capital LP acquired a new stake in Gates Industrial Corp PLC (NYSE:GTES - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 33,713 shares of the company's stock, valued at approximately $693,000.

Several other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in shares of Gates Industrial by 6,879.6% in the third quarter. Principal Financial Group Inc. now owns 1,063,838 shares of the company's stock worth $18,670,000 after purchasing an additional 1,048,596 shares in the last quarter. GAMMA Investing LLC boosted its stake in Gates Industrial by 29.0% during the fourth 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. Assenagon Asset Management S.A. bought a new position in Gates Industrial during the fourth quarter valued at about $2,154,000. Park Avenue Securities LLC boosted its stake in Gates Industrial by 29.1% during the fourth quarter. Park Avenue Securities LLC now owns 49,939 shares of the company's stock valued at $1,027,000 after buying an additional 11,251 shares in the last quarter. Finally, Kera Capital Partners Inc. bought a new position in Gates Industrial during the fourth quarter valued at about $205,000. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gates Industrial

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the transaction, the director now directly owns 188,452 shares of the company's stock, valued at approximately $3,686,121.12. The trade was a 46.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

GTES has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Gates Industrial from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Royal Bank of Canada increased their price target on Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group decreased their price target 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. Morgan Stanley decreased their price target on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Evercore ISI increased their price target on Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.89.

Gates Industrial Stock Performance

NYSE GTES traded down $0.11 during trading on Wednesday, hitting $22.49. The company's stock had a trading volume of 943,425 shares, compared to its average volume of 2,656,422. 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 firm has a 50 day moving average price of $18.60 and a 200 day moving average price of $20.25. The firm has a market cap of $5.80 billion, a P/E ratio of 30.81 and a beta of 1.23. Gates Industrial Corp PLC has a 52 week low of $14.70 and a 52 week high of $23.85.

Gates Industrial (NYSE:GTES - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $847.60 million for the quarter, compared to analysts' expectations of $823.56 million. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. Gates Industrial's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 earnings per share. Equities research analysts forecast that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal 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.