State of Wyoming Invests $254,000 in Gates Industrial Corp PLC (NYSE:GTES)

State of Wyoming acquired a new stake in Gates Industrial Corp PLC (NYSE:GTES - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,349 shares of the company's stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GTES. HighPoint Advisor Group LLC boosted its holdings in shares of Gates Industrial by 3.2% during the fourth quarter. HighPoint Advisor Group LLC now owns 14,800 shares of the company's stock worth $331,000 after purchasing an additional 452 shares during the last quarter. EP Wealth Advisors LLC increased its stake in shares of Gates Industrial by 3.6% during the 4th quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock valued at $298,000 after acquiring an additional 504 shares during the last quarter. MetLife Investment Management LLC lifted its holdings 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 worth $86,000 after acquiring an additional 567 shares during the period. United Services Automobile Association boosted its position in shares of Gates Industrial by 4.8% in the fourth quarter. United Services Automobile Association now owns 14,054 shares of the company's stock worth $289,000 after acquiring an additional 646 shares during the last quarter. Finally, Utah Retirement Systems boosted its position in shares of Gates Industrial by 6.4% in the fourth quarter. Utah Retirement Systems now owns 11,700 shares of the company's stock worth $241,000 after acquiring an additional 700 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded up $0.50 during trading on Tuesday, hitting $21.44. 1,235,674 shares of the company traded hands, compared to its average volume of 2,902,713. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 29.37 and a beta of 1.23. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85. 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 business's fifty day moving average is $18.98 and its 200-day moving average is $20.36.

Gates Industrial (NYSE:GTES - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The company had revenue of $847.60 million for the quarter, compared to analyst estimates of $823.56 million. During the same quarter last year, the business earned $0.31 earnings per share. Gates Industrial's revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson bought 60,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the purchase, the director now directly owns 188,452 shares in the company, valued at approximately $3,686,121.12. This trade represents a 46.71% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

GTES has been the topic of a number of recent analyst reports. Royal Bank of Canada increased their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Evercore ISI raised their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Citigroup dropped their target price on shares of 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 increased their price objective on shares of Gates Industrial from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Barclays upped their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.89.

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.