Gates Industrial Corp PLC (NYSE:GTES) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,137,082 shares of the company's stock after purchasing an additional 83,011 shares during the quarter. Envestnet Asset Management Inc. owned 0.45% of Gates Industrial worth $23,390,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of GTES. Assetmark Inc. lifted its stake in Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company's stock valued at $32,000 after acquiring an additional 1,514 shares during the period. Versant Capital Management Inc raised its holdings in shares of Gates Industrial by 178.3% during the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company's stock worth $51,000 after purchasing an additional 1,598 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after purchasing an additional 724 shares during the period. GAMMA Investing LLC boosted its holdings in Gates Industrial by 29.0% in the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company's stock valued at $103,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Gates Industrial by 180.6% during the 4th quarter. Venturi Wealth Management LLC now owns 8,640 shares of the company's stock worth $178,000 after purchasing an additional 5,561 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Transactions at Gates Industrial

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the acquisition, the director now owns 188,452 shares in the company, valued at $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 SEC, which is available through this link. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GTES. Citigroup lowered their target price on Gates Industrial from $27.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday. KeyCorp dropped their price objective on shares of Gates Industrial from $27.00 to $21.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. 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. Barclays dropped their price target on shares of Gates Industrial from $25.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, Royal Bank of Canada upped their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.67.

Gates Industrial Price Performance

GTES stock traded up $0.09 during trading on Friday, hitting $16.93. The stock had a trading volume of 1,226,176 shares, compared to its average volume of 2,982,377. Gates Industrial Corp PLC has a twelve month low of $14.70 and a twelve month high of $23.85. The company's 50-day moving average price is $19.45 and its two-hundred day moving average price is $20.08. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The stock has a market capitalization of $4.32 billion, a P/E ratio of 23.19 and a beta of 1.24.

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%. As a group, research analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

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.