Natixis Advisors LLC Has $3.66 Million Stock Holdings in Gates Industrial Corporation PLC (NYSE:GTES)

Key Points

• Natixis Advisors LLC reduced its stake in Gates Industrial Corporation by 8.6%, selling 18,688 shares and now owning approximately 0.08% of the company valued at $3.66 million.
• FMR LLC and UBS AM significantly increased their positions in Gates Industrial by 48.9% and 540.7% respectively in the fourth quarter, highlighting strong institutional interest.
• Gates Industrial recently reported earnings per share of $0.39, surpassing analysts' expectations, while its revenue of $883.7 million was slightly down year-over-year.

Natixis Advisors LLC decreased its position in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 8.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 198,806 shares of the company's stock after selling 18,688 shares during the period. Natixis Advisors LLC owned about 0.08% of Gates Industrial worth $3,660,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GTES. XTX Topco Ltd boosted its stake in shares of Gates Industrial by 42.4% during the first quarter. XTX Topco Ltd now owns 36,158 shares of the company's stock valued at $666,000 after acquiring an additional 10,762 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Gates Industrial by 0.4% during the first quarter. Mackenzie Financial Corp now owns 602,743 shares of the company's stock valued at $11,096,000 after acquiring an additional 2,609 shares during the last quarter. LPL Financial LLC lifted its position in Gates Industrial by 15.7% during the first quarter. LPL Financial LLC now owns 179,272 shares of the company's stock worth $3,300,000 after buying an additional 24,356 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Gates Industrial by 20.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,371 shares of the company's stock worth $1,204,000 after buying an additional 10,933 shares during the period. Finally, Heartland Advisors Inc. lifted its position in Gates Industrial by 27.6% during the first quarter. Heartland Advisors Inc. now owns 785,091 shares of the company's stock worth $14,454,000 after buying an additional 169,899 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. KeyCorp restated an "overweight" rating and issued a $30.00 price objective (up from $26.00) on shares of Gates Industrial in a report on Thursday, July 31st. Morgan Stanley cut their price objective on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Citigroup raised their price objective on Gates Industrial from $22.00 to $29.00 and gave the stock a "buy" rating in a report on Monday, July 14th. Finally, Royal Bank Of Canada raised their target price on Gates Industrial from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

Gates Industrial Price Performance

Shares of NYSE GTES traded down $0.26 during mid-day trading on Friday, reaching $23.62. The company had a trading volume of 1,529,360 shares, compared to its average volume of 2,057,343. The company has a current ratio of 3.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. The stock has a market cap of $6.08 billion, a PE ratio of 30.28 and a beta of 1.24. The company has a 50-day moving average price of $23.44 and a two-hundred day moving average price of $21.16. Gates Industrial Corporation PLC has a 1-year low of $14.70 and a 1-year high of $25.66.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%. The business had revenue of $883.70 million for the quarter, compared to the consensus estimate of $873.34 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. Gates Industrial's revenue for the quarter was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

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.