Leeward Investments LLC MA Decreases Stock Holdings in Gates Industrial Corporation PLC (NYSE:GTES)

Leeward Investments LLC MA decreased its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 4.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,192,601 shares of the company's stock after selling 53,291 shares during the quarter. 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 about 0.46% of Gates Industrial worth $21,956,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. GeoWealth Management LLC raised its holdings 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 acquiring an additional 789 shares during the last quarter. Assetmark Inc. raised its stake 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. Aster Capital Management DIFC Ltd purchased a new position in shares of Gates Industrial in the fourth quarter worth $43,000. SRS Capital Advisors Inc. raised its stake 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 purchasing an additional 724 shares during the last quarter. Finally, MetLife Investment Management LLC raised its stake in shares of Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after purchasing an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Gates Industrial Trading Up 0.5%

GTES traded up $0.11 on Friday, hitting $24.01. The company had a trading volume of 1,215,950 shares, compared to its average volume of 2,795,543. The company has a market cap of $6.19 billion, a PE ratio of 29.28 and a beta of 1.22. Gates Industrial Corporation PLC has a 12-month low of $14.70 and a 12-month high of $24.09. The company has a quick ratio of 2.35, a current ratio of 3.33 and a debt-to-equity ratio of 0.70. The business's fifty day simple moving average is $21.57 and its 200 day simple moving average is $20.46.

Gates Industrial (NYSE:GTES - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.36 earnings per share for the quarter, beating 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 return on equity of 10.15% and a net margin of 6.39%. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.31 EPS. Equities research analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on GTES shares. KeyCorp boosted their target price on Gates Industrial from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Citigroup decreased their price objective on shares of Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a report on Monday, April 14th. The Goldman Sachs Group boosted their price objective on shares of Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Royal Bank Of Canada boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Barclays upped their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Gates Industrial presently has an average rating of "Moderate Buy" and a consensus price target of $23.22.

About Gates Industrial

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.