Graham Capital Management L.P. Has $224,000 Stake in Gates Industrial Corp PLC (NYSE:GTES)

Graham Capital Management L.P. lessened its stake in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 95.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,881 shares of the company's stock after selling 218,119 shares during the quarter. Graham Capital Management L.P.'s holdings in Gates Industrial were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. FMR LLC boosted its stake in shares of Gates Industrial by 48.9% in the 4th quarter. FMR LLC now owns 19,442,436 shares of the company's stock valued at $399,931,000 after purchasing an additional 6,383,165 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Gates Industrial by 4.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 15,546,064 shares of the company's stock valued at $317,461,000 after purchasing an additional 616,687 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Gates Industrial by 2.3% in the 4th quarter. Invesco Ltd. now owns 7,406,630 shares of the company's stock valued at $152,354,000 after purchasing an additional 168,328 shares during the last quarter. Fiduciary Management Inc. WI boosted its stake in Gates Industrial by 0.3% during the 4th quarter. Fiduciary Management Inc. WI now owns 7,224,844 shares of the company's stock worth $148,615,000 after acquiring an additional 21,191 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in Gates Industrial by 31.5% during the 4th quarter. Jennison Associates LLC now owns 5,300,805 shares of the company's stock worth $109,038,000 after acquiring an additional 1,268,716 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Insider Buying and Selling

In related news, Director Fredrik J. Eliasson acquired 60,000 shares of the firm's stock in a transaction on Friday, March 7th. The shares were purchased at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the acquisition, the director now directly owns 188,452 shares in the company, valued at approximately $3,686,121.12. This trade represents a 46.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GTES has been the topic of several recent analyst reports. Wall Street Zen raised shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Thursday. Evercore ISI lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. KeyCorp lifted their price target on shares of Gates Industrial from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. The Goldman Sachs Group cut their price target on shares of Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. Finally, Barclays lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Gates Industrial Stock Down 0.3%

Shares of GTES stock traded down $0.07 during trading on Friday, reaching $20.95. The company's stock had a trading volume of 995,021 shares, compared to its average volume of 2,909,408. The business has a fifty day moving average price of $18.96 and a 200-day moving average price of $20.36. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.40 billion, a price-to-earnings ratio of 28.70 and a beta of 1.23. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85.

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, topping analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $847.60 million for the quarter, compared to analyst estimates of $823.56 million. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Analysts anticipate that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

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.