Universal Beteiligungs und Servicegesellschaft mbH Increases Stake in Gates Industrial Corporation PLC (NYSE:GTES)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Gates Industrial Corporation by 32.3%, acquiring an additional 157,519 shares in the first quarter, bringing its total ownership to 645,257 shares valued at approximately $11.88 million.
• Gates Industrial's stock has seen an increase in price targets, with Barclays raising theirs from $23.00 to $26.00 and Citigroup raising theirs from $22.00 to $29.00, with an overall average target price of $24.44.
• The company reported $0.36 earnings per share for the last quarter, exceeding analysts' expectations, although revenue declined by 1.7% year-over-year to $847.60 million.

Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 32.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 645,257 shares of the company's stock after buying an additional 157,519 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.25% of Gates Industrial worth $11,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of GTES. GeoWealth Management LLC boosted its position in shares of 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 acquiring an additional 789 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Gates Industrial in the fourth quarter worth $43,000. MetLife Investment Management LLC lifted its position in Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after buying an additional 567 shares during the last quarter. Avanza Fonder AB bought a new stake in Gates Industrial in the first quarter worth $145,000. Finally, GAMMA Investing LLC lifted its position in Gates Industrial by 81.0% in the first quarter. GAMMA Investing LLC now owns 9,099 shares of the company's stock worth $168,000 after buying an additional 4,073 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Royal Bank Of Canada raised their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. The Goldman Sachs Group raised their price target on Gates Industrial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Citigroup lifted their target price on Gates Industrial from $22.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Finally, Barclays lifted their target price on Gates Industrial from $23.00 to $26.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Gates Industrial presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.44.

Gates Industrial Trading Down 2.5%

Shares of NYSE:GTES traded down $0.63 on Tuesday, hitting $24.63. 579,803 shares of the company's stock were exchanged, compared to its average volume of 2,295,767. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 30.08 and a beta of 1.22. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.33 and a quick ratio of 2.35. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $25.45. The business's 50 day simple moving average is $22.88 and its two-hundred day simple moving average is $20.91.

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. The firm had revenue of $847.60 million for the quarter, compared to analyst estimates of $823.56 million. Gates Industrial had a return on equity of 10.15% and a net margin of 6.39%. The business's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. Analysts anticipate that Gates Industrial Corporation 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.