Teza Capital Management LLC Buys New Position in Gates Industrial Corp PLC (NYSE:GTES)

Teza Capital Management LLC purchased a new position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 82,506 shares of the company's stock, valued at approximately $1,697,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. GeoWealth Management LLC lifted its holdings in shares of Gates Industrial by 187.4% in the fourth 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. lifted 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 buying an additional 1,514 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Gates Industrial in the fourth quarter valued at $43,000. SRS Capital Advisors Inc. lifted its holdings in shares of Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after buying an additional 724 shares during the period. Finally, MetLife Investment Management LLC lifted its holdings in shares of Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock valued at $86,000 after buying an additional 567 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Citigroup cut their target price on Gates Industrial from $27.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Evercore ISI boosted their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Royal Bank of Canada boosted their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. KeyCorp boosted their target price on Gates Industrial from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group cut their target price on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.89.

Insiders Place Their Bets

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the purchase, the director now owns 188,452 shares in the company, valued at $3,686,121.12. The trade was a 46.71% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company's stock.

Gates Industrial Stock Down 1.4%

NYSE:GTES traded down $0.30 during trading hours on Wednesday, hitting $21.29. 2,303,109 shares of the company's stock traded hands, compared to its average volume of 2,916,020. The firm has a market cap of $5.49 billion, a P/E ratio of 29.17 and a beta of 1.23. Gates Industrial Corp PLC has a twelve month low of $14.70 and a twelve month high of $23.85. 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 stock's fifty day moving average price is $18.89 and its two-hundred day moving average price is $20.36.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results 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. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. The company had revenue of $847.60 million for the quarter, compared to analyst estimates of $823.56 million. During the same period in the prior year, the firm posted $0.31 EPS. The business's revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Gates Industrial Corp PLC will post 1.36 earnings per share 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.