Jane Street Group LLC Has $711,000 Position in Gates Industrial Corp PLC (NYSE:GTES)

Jane Street Group LLC lessened its stake in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 87.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,579 shares of the company's stock after selling 252,030 shares during the quarter. Jane Street Group LLC's holdings in Gates Industrial were worth $711,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GTES. Exchange Traded Concepts LLC raised its position in Gates Industrial by 9.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 99,888 shares of the company's stock valued at $2,055,000 after purchasing an additional 8,868 shares during the period. KBC Group NV increased its position in shares of Gates Industrial by 2,487.4% during the fourth quarter. KBC Group NV now owns 146,086 shares of the company's stock worth $3,005,000 after acquiring an additional 140,440 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Gates Industrial by 50.5% during the fourth quarter. Hantz Financial Services Inc. now owns 84,253 shares of the company's stock worth $1,733,000 after acquiring an additional 28,280 shares during the last quarter. EMC Capital Management increased its position in shares of Gates Industrial by 127,211.1% during the fourth quarter. EMC Capital Management now owns 11,458 shares of the company's stock worth $236,000 after acquiring an additional 11,449 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Gates Industrial by 31.5% in the fourth quarter. Jennison Associates LLC now owns 5,300,805 shares of the company's stock worth $109,038,000 after purchasing an additional 1,268,716 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GTES shares. Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Royal Bank of Canada boosted their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Evercore ISI boosted their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Barclays boosted their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Finally, Morgan Stanley reduced their price objective on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Gates Industrial has a consensus rating of "Moderate Buy" and a consensus target price of $22.89.

Gates Industrial Stock Up 0.1%

Shares of NYSE GTES traded up $0.01 during mid-day trading on Thursday, reaching $21.49. The company had a trading volume of 449,115 shares, compared to its average volume of 2,887,051. Gates Industrial Corp PLC has a twelve month low of $14.70 and a twelve month high of $23.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The stock has a market capitalization of $5.54 billion, a PE ratio of 29.45 and a beta of 1.23. The stock's 50 day moving average is $19.06 and its 200-day moving average is $20.37.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The firm had revenue of $847.60 million during the quarter, compared to analysts' expectations of $823.56 million. During the same period in the prior year, the company posted $0.31 earnings per share. Gates Industrial's revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Gates Industrial

In other news, Director Fredrik J. Eliasson bought 60,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the transaction, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This represents a 46.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.

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.