Gates Industrial Corporation PLC (NYSE:GTES) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,192,601 shares of the company's stock after selling 53,291 shares during the period. Gates Industrial accounts for about 1.2% of Leeward Investments LLC MA's holdings, making the stock its 15th biggest position. Leeward Investments LLC MA owned 0.46% of Gates Industrial worth $21,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in GTES. GeoWealth Management LLC lifted its holdings in shares of Gates Industrial by 187.4% during the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock worth $25,000 after purchasing an additional 789 shares during the period. Assetmark Inc. lifted its holdings in Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company's stock valued at $32,000 after acquiring an additional 1,514 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Gates Industrial in the fourth quarter valued at $43,000. SRS Capital Advisors Inc. lifted its holdings in Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after acquiring an additional 724 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock valued at $86,000 after acquiring an additional 567 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Trading Up 0.5%

GTES traded up $0.11 during midday trading on Friday, hitting $24.01. The company's stock had a trading volume of 1,215,950 shares, compared to its average volume of 2,795,543. 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 $6.19 billion, a P/E ratio of 29.28 and a beta of 1.22. The firm has a 50-day moving average price of $21.57 and a two-hundred day moving average price of $20.46. Gates Industrial Corporation PLC has a 52-week low of $14.70 and a 52-week high of $24.09.

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

Wall Street Analysts Forecast Growth

GTES has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised their target price on Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Citigroup lowered their price target on Gates Industrial from $27.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wall Street Zen downgraded Gates Industrial from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 27th. Morgan Stanley cut 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, Barclays lifted their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $23.22.

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.