Deutsche Bank AG Has $3.87 Million Stock Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Deutsche Bank AG grew its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 1,332.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,052 shares of the company's stock after buying an additional 174,926 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of Gates Industrial worth $3,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in GTES. Assenagon Asset Management S.A. acquired a new stake in shares of Gates Industrial during the 4th quarter valued at about $2,154,000. Park Avenue Securities LLC lifted its holdings in shares of Gates Industrial by 29.1% during the 4th quarter. Park Avenue Securities LLC now owns 49,939 shares of the company's stock valued at $1,027,000 after buying an additional 11,251 shares during the last quarter. Kera Capital Partners Inc. acquired a new stake in shares of Gates Industrial during the 4th quarter valued at about $205,000. Oliver Luxxe Assets LLC acquired a new stake in shares of Gates Industrial during the 4th quarter valued at about $1,665,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Gates Industrial by 9.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 99,888 shares of the company's stock valued at $2,055,000 after buying an additional 8,868 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Price Performance

NYSE:GTES traded down $0.07 during trading hours on Friday, reaching $20.95. The company had a trading volume of 995,021 shares, compared to its average volume of 2,909,408. The stock has a 50-day moving average of $18.96 and a two-hundred day moving average of $20.36. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85. The firm has a market capitalization of $5.40 billion, a PE ratio of 28.70 and a beta of 1.23. 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 (NYSE:GTES - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $823.56 million. During the same period in the prior year, the business posted $0.31 earnings per share. The business's revenue was down 1.7% compared to the same quarter last year. Analysts forecast that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GTES. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Citigroup cut their price objective 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. KeyCorp raised their price objective on Gates Industrial from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley cut their price objective on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank of Canada raised their price objective on Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.89.

Insider Buying and Selling at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson acquired 60,000 shares of Gates Industrial stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the purchase, 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 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.