KBC Group NV lessened its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 92.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,458 shares of the company's stock after selling 135,628 shares during the quarter. KBC Group NV's holdings in Gates Industrial were worth $193,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the business. HighPoint Advisor Group LLC raised its stake in Gates Industrial by 3.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 14,800 shares of the company's stock worth $331,000 after buying an additional 452 shares during the period. EP Wealth Advisors LLC raised its stake in Gates Industrial by 3.6% during the 4th quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock worth $298,000 after buying an additional 504 shares during the period. MetLife Investment Management LLC raised its stake in Gates Industrial by 15.8% during the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after buying an additional 567 shares during the period. United Services Automobile Association raised its stake in Gates Industrial by 4.8% during the 4th quarter. United Services Automobile Association now owns 14,054 shares of the company's stock worth $289,000 after buying an additional 646 shares during the period. Finally, Utah Retirement Systems raised its stake in Gates Industrial by 6.4% during the 4th quarter. Utah Retirement Systems now owns 11,700 shares of the company's stock worth $241,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.
Gates Industrial Stock Up 0.5%
NYSE GTES opened at $24.01 on Monday. The company has a current ratio of 3.33, a quick ratio of 2.35 and a debt-to-equity ratio of 0.70. Gates Industrial Corporation PLC has a 1-year low of $14.70 and a 1-year high of $24.09. The company has a 50 day moving average of $21.57 and a 200-day moving average of $20.46. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 29.28 and a beta of 1.22.
Gates Industrial (NYSE:GTES - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Gates Industrial had a net margin of 6.39% and a return on equity of 10.15%. The company had revenue of $847.60 million during 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 quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Wall Street Zen cut Gates Industrial from a "strong-buy" rating to a "buy" rating in a report on Friday, June 27th. KeyCorp lifted their price target on Gates Industrial from $23.00 to $26.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Royal Bank Of Canada lifted their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Barclays raised their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Finally, Citigroup cut their price objective on shares of Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.22.
View Our Latest Research Report on GTES
About Gates Industrial
(
Free Report)
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.
See Also
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