Gates Industrial Corp PLC (NYSE:GTES) Shares Bought by California State Teachers Retirement System

California State Teachers Retirement System raised its holdings in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 14.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,512 shares of the company's stock after purchasing an additional 27,898 shares during the quarter. California State Teachers Retirement System owned 0.09% of Gates Industrial worth $4,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC boosted its holdings in Gates Industrial by 3.2% in the 4th quarter. HighPoint Advisor Group LLC now owns 14,800 shares of the company's stock valued at $331,000 after purchasing an additional 452 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Gates Industrial by 3.6% in 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 boosted its holdings in Gates Industrial by 15.8% in the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock valued at $86,000 after purchasing an additional 567 shares in the last quarter. United Services Automobile Association boosted its stake in shares of Gates Industrial by 4.8% during the 4th quarter. United Services Automobile Association now owns 14,054 shares of the company's stock worth $289,000 after acquiring an additional 646 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in shares of Gates Industrial by 6.4% during the 4th quarter. Utah Retirement Systems now owns 11,700 shares of the company's stock worth $241,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Gates Industrial Price Performance

Shares of Gates Industrial stock traded up $0.23 during trading on Friday, hitting $21.72. 869,338 shares of the company were exchanged, compared to its average volume of 2,857,051. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. Gates Industrial Corp PLC has a fifty-two week low of $14.70 and a fifty-two week high of $23.85. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 29.75 and a beta of 1.23. The firm has a 50 day moving average price of $19.36 and a 200 day moving average price of $20.39.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank of Canada boosted their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Evercore ISI boosted their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Citigroup decreased their price target on Gates Industrial from $27.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Finally, The Goldman Sachs Group boosted their price target on Gates Industrial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Gates Industrial has an average rating of "Moderate Buy" and an average price target of $22.89.

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.