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

A number of other large investors also recently modified their holdings of the business. XTX Topco Ltd increased its stake in Gates Industrial by 42.4% during the 1st quarter. XTX Topco Ltd now owns 36,158 shares of the company's stock valued at $666,000 after buying an additional 10,762 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Gates Industrial by 0.4% in 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 in the last quarter. LPL Financial LLC boosted its holdings in shares of Gates Industrial by 15.7% in the first quarter. LPL Financial LLC now owns 179,272 shares of the company's stock valued at $3,300,000 after acquiring an additional 24,356 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 purchasing an additional 10,933 shares in the last quarter. Finally, Heartland Advisors Inc. raised its holdings 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 purchasing an additional 169,899 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Trading Down 1.1%

Shares of NYSE:GTES traded down $0.27 during midday trading on Thursday, reaching $23.87. The company had a trading volume of 1,994,451 shares, compared to its average volume of 2,034,130. The company has a fifty day simple moving average of $23.39 and a two-hundred day simple moving average of $21.13. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of 30.61 and a beta of 1.24. Gates Industrial Corporation PLC has a 1-year low of $14.70 and a 1-year high of $25.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46.

Gates Industrial (NYSE:GTES - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $883.70 million during the quarter, compared to analysts' expectations of $873.34 million. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The business's revenue for the quarter was down .2% on a year-over-year basis. During the same period last year, the company posted $0.36 earnings per share. Research analysts predict that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on Gates Industrial from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. KeyCorp restated an "overweight" rating and issued a $30.00 price objective (up previously from $26.00) on shares of Gates Industrial in a report on Thursday, July 31st. Citigroup raised their target price on Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Wall Street Zen upgraded shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Finally, Barclays reissued an "overweight" rating and issued a $28.00 price target (up from $26.00) on shares of Gates Industrial in a report on Monday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $26.67.

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.