State of Wyoming purchased a new position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,349 shares of the company's stock, valued at approximately $254,000.
A number of other large investors have also modified their holdings of GTES. GeoWealth Management LLC increased its stake in 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 buying an additional 789 shares during the period. Assetmark Inc. boosted its holdings in shares of Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company's stock valued at $32,000 after acquiring an additional 1,514 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Gates Industrial during the fourth quarter valued at approximately $43,000. SRS Capital Advisors Inc. raised its holdings in Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock worth $54,000 after purchasing an additional 724 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Gates Industrial by 15.8% during the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after purchasing an additional 567 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.
Gates Industrial Trading Up 0.0%
Shares of Gates Industrial stock traded up $0.01 during trading on Wednesday, hitting $21.44. The stock had a trading volume of 1,139,043 shares, compared to its average volume of 2,895,689. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $5.53 billion, a PE ratio of 29.36 and a beta of 1.23. Gates Industrial Corp PLC has a 1 year low of $14.70 and a 1 year high of $23.85. The stock has a 50 day simple moving average of $19.02 and a 200 day simple moving average of $20.36.
Gates Industrial (NYSE:GTES - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $847.60 million for the quarter, compared to analysts' expectations of $823.56 million. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.31 EPS. On average, research analysts expect that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GTES. KeyCorp increased their price target on Gates Industrial from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Citigroup decreased their target price on Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley dropped their price target on shares of Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Barclays upped their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Monday, May 12th. Finally, Evercore ISI lifted their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.89.
Get Our Latest Stock Report on GTES
Insider Buying and Selling
In other Gates Industrial news, Director Fredrik J. Eliasson bought 60,000 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the purchase, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. The trade was a 46.71% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.
About Gates Industrial
(
Free Report)
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.
See Also
Before you consider Gates Industrial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gates Industrial wasn't on the list.
While Gates Industrial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
