DekaBank Deutsche Girozentrale Boosts Holdings in Gates Industrial Corporation PLC (NYSE:GTES)

DekaBank Deutsche Girozentrale raised its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 356,629 shares of the company's stock after acquiring an additional 15,813 shares during the period. DekaBank Deutsche Girozentrale owned about 0.14% of Gates Industrial worth $6,472,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of Gates Industrial by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,454,969 shares of the company's stock worth $50,499,000 after purchasing an additional 123,859 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company's stock worth $32,000 after purchasing an additional 1,514 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Gates Industrial in the fourth quarter worth approximately $529,000. PNC Financial Services Group Inc. grew its holdings in shares of Gates Industrial by 69.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,185 shares of the company's stock worth $353,000 after purchasing an additional 7,036 shares during the last quarter. Finally, Amundi bought a new position in shares of Gates Industrial in the fourth quarter worth approximately $2,480,000. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Stock Down 1.2%

Gates Industrial stock traded down $0.29 on Friday, hitting $24.45. 1,250,624 shares of the stock traded hands, compared to its average volume of 2,786,132. The company has a current ratio of 3.33, a quick ratio of 2.35 and a debt-to-equity ratio of 0.70. The firm has a market cap of $6.30 billion, a P/E ratio of 29.82 and a beta of 1.22. The business's fifty day simple moving average is $22.13 and its 200 day simple moving average is $20.58. Gates Industrial Corporation PLC has a 1 year low of $14.70 and a 1 year high of $24.92.

Gates Industrial (NYSE:GTES - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $847.60 million during the quarter, compared to analyst estimates of $823.56 million. Gates Industrial had a return on equity of 10.15% and a net margin of 6.39%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, sell-side analysts forecast that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GTES shares. Royal Bank Of Canada raised their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday. The Goldman Sachs Group raised 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. Morgan Stanley dropped their price target on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Finally, KeyCorp raised their price target on Gates Industrial from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Gates Industrial presently has an average rating of "Moderate Buy" and an average price target of $23.56.

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.