Universal Beteiligungs und Servicegesellschaft mbH Invests $10.03 Million in Gates Industrial Corp PLC (NYSE:GTES)

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 487,738 shares of the company's stock, valued at approximately $10,033,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.19% of Gates Industrial at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GTES. FMR LLC increased its position in Gates Industrial by 48.9% during the 4th quarter. FMR LLC now owns 19,442,436 shares of the company's stock worth $399,931,000 after purchasing an additional 6,383,165 shares in the last quarter. JPMorgan Chase & Co. increased its position in Gates Industrial by 1,185.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,363,499 shares of the company's stock worth $69,187,000 after purchasing an additional 3,101,738 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Gates Industrial by 540.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,609,471 shares of the company's stock valued at $74,247,000 after acquiring an additional 3,046,064 shares during the period. Norges Bank acquired a new stake in Gates Industrial during the 4th quarter worth approximately $56,520,000. Finally, Raymond James Financial Inc. acquired a new stake in Gates Industrial during the 4th quarter worth approximately $42,080,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now owns 188,452 shares of the company's stock, valued at $3,686,121.12. This represents a 46.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GTES shares. Morgan Stanley dropped their price objective on shares of 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. KeyCorp increased their target price on Gates Industrial from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. Barclays raised their target price on Gates Industrial from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Finally, Royal Bank of Canada boosted their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Three investment 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $22.89.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded down $0.11 on Wednesday, reaching $21.45. 1,518,868 shares of the company's stock were exchanged, compared to its average volume of 2,868,093. Gates Industrial Corp PLC has a fifty-two week low of $14.70 and a fifty-two week high of $23.85. The business's 50-day moving average is $19.24 and its two-hundred day moving average is $20.39. 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 firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of 29.38 and a beta of 1.23.

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

Gates Industrial 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.