D. E. Shaw & Co. Inc. Has $3.33 Million Stake in Gates Industrial Corp PLC (NYSE:GTES)

D. E. Shaw & Co. Inc. decreased its position in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 66.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 161,856 shares of the company's stock after selling 321,397 shares during the period. D. E. Shaw & Co. Inc. owned about 0.06% of Gates Industrial worth $3,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTES. GeoWealth Management LLC lifted its position in Gates Industrial by 187.4% in the 4th 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. Assetmark Inc. lifted its position in Gates Industrial by 2,968.6% in the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company's stock worth $32,000 after buying an additional 1,514 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Gates Industrial in the 4th quarter worth approximately $43,000. SRS Capital Advisors Inc. raised its holdings in shares of Gates Industrial by 38.1% during the 4th 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 in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Gates Industrial by 15.8% during 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. Institutional investors and hedge funds own 98.50% of the company's stock.

Gates Industrial Stock Performance

Shares of GTES opened at $22.16 on Monday. The company has a market capitalization of $5.71 billion, a PE ratio of 30.35 and a beta of 1.23. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85. 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 company's fifty day moving average price is $18.75 and its 200 day moving average price is $20.32.

Gates Industrial (NYSE:GTES - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $847.60 million for the quarter, compared to the consensus estimate of $823.56 million. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. As a group, analysts expect 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 topic of a number of recent research reports. KeyCorp raised their price target on shares of Gates Industrial from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Citigroup cut their price target on shares of Gates Industrial from $27.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Evercore ISI raised their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Barclays raised their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Morgan Stanley cut their price target on shares of Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Gates Industrial has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Insiders Place Their Bets

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company's stock.

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.

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