Leeward Investments LLC MA Sells 53,291 Shares of Gates Industrial Corporation PLC (NYSE:GTES)

Leeward Investments LLC MA decreased its holdings in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 4.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,192,601 shares of the company's stock after selling 53,291 shares during the period. Gates Industrial comprises about 1.2% of Leeward Investments LLC MA's investment portfolio, making the stock its 15th biggest holding. Leeward Investments LLC MA owned 0.46% of Gates Industrial worth $21,956,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in shares of Gates Industrial in the fourth quarter worth $529,000. Smartleaf Asset Management LLC grew its holdings in shares of Gates Industrial by 14.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,005 shares of the company's stock worth $184,000 after acquiring an additional 1,140 shares during the period. SRS Capital Advisors Inc. grew its holdings in shares of Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock worth $54,000 after acquiring an additional 724 shares during the period. 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 acquiring an additional 123,859 shares during the period. Finally, Keybank National Association OH grew its holdings in shares of Gates Industrial by 42.5% in the fourth quarter. Keybank National Association OH now owns 34,119 shares of the company's stock worth $702,000 after acquiring an additional 10,172 shares during the period. Institutional investors own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

GTES has been the subject of several recent research reports. Barclays boosted their price target on Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, May 12th. KeyCorp boosted their price target on Gates Industrial from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Royal Bank Of Canada boosted their price target on Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wall Street Zen lowered Gates Industrial from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group boosted their price objective on Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.22.

Gates Industrial Price Performance

Shares of NYSE:GTES traded down $0.31 during mid-day trading on Monday, reaching $23.70. The stock had a trading volume of 1,568,820 shares, compared to its average volume of 2,790,636. 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 company has a market cap of $6.11 billion, a P/E ratio of 28.90 and a beta of 1.22. Gates Industrial Corporation PLC has a 1 year low of $14.70 and a 1 year high of $24.13. The business's 50 day moving average price is $21.57 and its 200 day moving average price is $20.46.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Gates Industrial had a return on equity of 10.15% and a net margin of 6.39%. The company had revenue of $847.60 million for the quarter, compared to the consensus estimate of $823.56 million. During the same period in the previous year, the business earned $0.31 earnings per share. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. Research analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

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.