Seizert Capital Partners LLC Has $3.03 Million Position in Gates Industrial Corporation PLC (NYSE:GTES)

Seizert Capital Partners LLC trimmed its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 27.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 164,725 shares of the company's stock after selling 61,538 shares during the quarter. Seizert Capital Partners LLC owned about 0.06% of Gates Industrial worth $3,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GeoWealth Management LLC grew its stake in shares of Gates Industrial by 187.4% in the 4th quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock worth $25,000 after purchasing an additional 789 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Gates Industrial in the 4th quarter worth approximately $43,000. MetLife Investment Management LLC grew its stake in shares of Gates Industrial by 15.8% in the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after purchasing an additional 567 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of Gates Industrial in the 1st quarter worth approximately $145,000. Finally, GAMMA Investing LLC grew its stake in shares of Gates Industrial by 81.0% in the 1st quarter. GAMMA Investing LLC now owns 9,099 shares of the company's stock worth $168,000 after purchasing an additional 4,073 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Gates Industrial from $27.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday. Royal Bank Of Canada lifted their target price on shares of Gates Industrial from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Thursday. Wall Street Zen raised shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Barclays lifted their target price on shares of Gates Industrial from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Finally, KeyCorp reissued an "overweight" rating and issued a $30.00 price objective (up from $26.00) on shares of Gates Industrial in a research note on Thursday. Three research 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.44.

Gates Industrial Stock Down 1.9%

GTES stock traded down $0.48 during mid-day trading on Friday, hitting $24.32. The stock had a trading volume of 2,049,641 shares, compared to its average volume of 1,842,635. The company has a current ratio of 3.46, a quick ratio of 2.35 and a debt-to-equity ratio of 0.66. Gates Industrial Corporation PLC has a 1-year low of $14.70 and a 1-year high of $25.66. The company has a fifty day moving average of $23.16 and a 200 day moving average of $21.03. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 31.18 and a beta of 1.24.

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

Gates Industrial Company 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.