12,410 Shares in Gates Industrial Corporation PLC (NYSE:GTES) Purchased by Simon Quick Advisors LLC

Simon Quick Advisors LLC purchased a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,410 shares of the company's stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Gates Industrial by 48.9% in the 4th quarter. FMR LLC now owns 19,442,436 shares of the company's stock valued at $399,931,000 after acquiring an additional 6,383,165 shares during the period. Invesco Ltd. lifted its holdings in Gates Industrial by 2.3% during the fourth quarter. Invesco Ltd. now owns 7,406,630 shares of the company's stock valued at $152,354,000 after purchasing an additional 168,328 shares in the last quarter. Fiduciary Management Inc. WI grew its position in shares of Gates Industrial by 0.3% in the fourth quarter. Fiduciary Management Inc. WI now owns 7,224,844 shares of the company's stock valued at $148,615,000 after purchasing an additional 21,191 shares during the period. Janus Henderson Group PLC grew its position in shares of Gates Industrial by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,569,959 shares of the company's stock valued at $135,145,000 after purchasing an additional 85,253 shares during the period. Finally, GW&K Investment Management LLC increased its stake in shares of Gates Industrial by 25.8% during the fourth quarter. GW&K Investment Management LLC now owns 5,105,351 shares of the company's stock worth $105,017,000 after purchasing an additional 1,047,946 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GTES shares. Evercore ISI raised their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Barclays raised 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. Citigroup dropped their price target on Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, April 14th. KeyCorp raised their price objective on Gates Industrial from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Finally, Royal Bank Of Canada upped their target price on shares of 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.22.

Gates Industrial Trading Down 1.6%

Shares of NYSE GTES traded down $0.36 during trading on Tuesday, hitting $21.74. 1,441,821 shares of the company were exchanged, compared to its average volume of 2,836,509. The company has a fifty day moving average price of $20.02 and a 200-day moving average price of $20.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.35 and a current ratio of 3.33. The firm has a market capitalization of $5.60 billion, a PE ratio of 16.74 and a beta of 1.21. Gates Industrial Corporation PLC has a 12-month low of $14.70 and a 12-month high of $23.85.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $847.60 million for the quarter, compared to the consensus estimate of $823.56 million. Gates Industrial had a net margin of 6.39% and a return on equity of 10.15%. Gates Industrial's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.31 earnings per share. As a group, equities research analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current 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.