Aigen Investment Management LP bought a new stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,806 shares of the company's stock, valued at approximately $217,000.
Other large investors have also modified their holdings of the company. EP Wealth Advisors LLC grew its stake in Gates Industrial by 3.6% during the 4th quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock valued at $298,000 after purchasing an additional 504 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Gates Industrial by 15.8% during the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after buying an additional 567 shares in the last quarter. Personal CFO Solutions LLC grew its position in shares of Gates Industrial by 6.4% during the first quarter. Personal CFO Solutions LLC now owns 11,175 shares of the company's stock worth $206,000 after buying an additional 670 shares in the last quarter. Utah Retirement Systems grew its position in shares of Gates Industrial by 6.4% during the fourth quarter. Utah Retirement Systems now owns 11,700 shares of the company's stock worth $241,000 after buying an additional 700 shares in the last quarter. Finally, GeoWealth Management LLC grew its position in shares of Gates Industrial by 187.4% during the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock worth $25,000 after buying an additional 789 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Royal Bank Of Canada raised their price target on shares of Gates Industrial from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. KeyCorp reissued an "overweight" rating and set a $30.00 price target (up previously from $26.00) on shares of Gates Industrial in a research report on Thursday, July 31st. Citigroup lifted their target price on Gates Industrial from $22.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Barclays reiterated an "overweight" rating and issued a $28.00 price target (up from $26.00) on shares of Gates Industrial in a report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $26.67.
View Our Latest Research Report on Gates Industrial
Gates Industrial Price Performance
Gates Industrial stock traded up $0.0020 during midday trading on Tuesday, hitting $24.4520. The company's stock had a trading volume of 187,746 shares, compared to its average volume of 2,289,777. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $25.66. The company has a market capitalization of $6.30 billion, a PE ratio of 31.35 and a beta of 1.24. The stock's 50-day moving average price is $23.79 and its 200-day moving average price is $21.33. The company has a quick ratio of 2.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.66.
Gates Industrial (NYSE:GTES - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $883.70 million during the quarter, compared to analyst estimates of $873.34 million. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The business's quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Analysts anticipate that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.
Gates Industrial Company Profile
(
Free Report)
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.
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