SG Americas Securities LLC Has $1.05 Million Position in Gates Industrial Corporation PLC (NYSE:GTES)

SG Americas Securities LLC boosted its position in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 362.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,960 shares of the company's stock after purchasing an additional 44,654 shares during the quarter. SG Americas Securities LLC's holdings in Gates Industrial were worth $1,049,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GeoWealth Management LLC lifted its position in shares of Gates Industrial by 187.4% during the 4th quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock valued at $25,000 after acquiring an additional 789 shares during the period. Assetmark Inc. lifted its position in shares of Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company's stock valued at $32,000 after acquiring an additional 1,514 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Gates Industrial during the 4th quarter valued at $43,000. SRS Capital Advisors Inc. lifted its position in shares of Gates Industrial by 38.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after acquiring an additional 724 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Gates Industrial by 15.8% during the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock valued at $86,000 after acquiring an additional 567 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Price Performance

Shares of Gates Industrial stock traded up $0.03 during trading on Friday, reaching $21.98. 2,749,024 shares of the company's stock were exchanged, compared to its average volume of 2,806,875. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.35 and a current ratio of 3.33. Gates Industrial Corporation PLC has a 1-year low of $14.70 and a 1-year high of $23.85. The company has a market cap of $5.67 billion, a P/E ratio of 26.80 and a beta of 1.21. The firm's 50-day moving average price is $20.37 and its 200 day moving average price is $20.38.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results 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 return on equity of 10.15% and a net margin of 6.39%. The business had revenue of $847.60 million during the quarter, compared to analysts' expectations of $823.56 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

GTES has been the subject of a number of recent analyst reports. Barclays upped their target price on Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 14th. The Goldman Sachs Group upped their target price on Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley lowered their price target on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Royal Bank Of Canada boosted 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. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Gates Industrial presently has an average rating of "Moderate Buy" and a consensus price target of $23.22.

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.