82,506 Shares in Gates Industrial Corp PLC (NYSE:GTES) Bought by Teza Capital Management LLC

Teza Capital Management LLC acquired a new position in Gates Industrial Corp PLC (NYSE:GTES - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 82,506 shares of the company's stock, valued at approximately $1,697,000.

Several other hedge funds also recently made changes to their positions in GTES. Park Avenue Securities LLC boosted its holdings in shares of Gates Industrial by 29.1% in the fourth quarter. Park Avenue Securities LLC now owns 49,939 shares of the company's stock worth $1,027,000 after buying an additional 11,251 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Gates Industrial in the fourth quarter worth about $2,154,000. KBC Group NV boosted its holdings in shares of Gates Industrial by 2,487.4% in the fourth quarter. KBC Group NV now owns 146,086 shares of the company's stock worth $3,005,000 after buying an additional 140,440 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Gates Industrial in the fourth quarter worth about $529,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Gates Industrial by 69.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,185 shares of the company's stock worth $353,000 after buying an additional 7,036 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Buying and Selling at Gates Industrial

In other news, Director Fredrik J. Eliasson purchased 60,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company's stock.

Wall Street Analysts Forecast Growth

GTES has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of Gates Industrial from $21.00 to $23.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Wall Street Zen upgraded shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Thursday. Citigroup decreased their target price on shares of Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank of Canada raised 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. Finally, Morgan Stanley decreased their price target on shares of Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Three equities research 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. Based on data from MarketBeat, Gates Industrial currently has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Gates Industrial Stock Down 0.3%

Shares of GTES stock traded down $0.07 during trading on Friday, hitting $20.95. 995,021 shares of the company were exchanged, compared to its average volume of 2,909,408. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 28.70 and a beta of 1.23. The business's 50-day simple moving average is $18.96 and its 200 day simple moving average is $20.36. Gates Industrial Corp PLC has a twelve month low of $14.70 and a twelve month high of $23.85.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $847.60 million during 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 revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. As a group, analysts forecast that Gates Industrial Corp 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.