XTX Topco Ltd boosted its stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 42.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,158 shares of the company's stock after purchasing an additional 10,762 shares during the period. XTX Topco Ltd's holdings in Gates Industrial were worth $666,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Gates Industrial by 48.9% in the fourth quarter. FMR LLC now owns 19,442,436 shares of the company's stock valued at $399,931,000 after acquiring an additional 6,383,165 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Gates Industrial by 2.3% in the fourth quarter. Invesco Ltd. now owns 7,406,630 shares of the company's stock valued at $152,354,000 after buying an additional 168,328 shares during the last quarter. Fiduciary Management Inc. WI raised its holdings in shares of Gates Industrial by 0.3% in the fourth quarter. Fiduciary Management Inc. WI now owns 7,224,844 shares of the company's stock valued at $148,615,000 after buying an additional 21,191 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Gates Industrial by 30.5% in the first quarter. Jennison Associates LLC now owns 6,919,403 shares of the company's stock valued at $127,386,000 after buying an additional 1,618,598 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Gates Industrial by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,569,959 shares of the company's stock valued at $135,145,000 after buying an additional 85,253 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on GTES shares. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. The Goldman Sachs Group lifted their price objective on Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Citigroup lifted their price objective on Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 14th. Barclays increased their target price on shares of Gates Industrial from $26.00 to $28.00 and gave the company an "overweight" rating in a report on Monday. Finally, Royal Bank Of Canada increased their target price on shares of Gates Industrial from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Three equities 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. According to MarketBeat.com, Gates Industrial has a consensus rating of "Moderate Buy" and an average price target of $26.67.
Read Our Latest Research Report on GTES
Gates Industrial Price Performance
Shares of NYSE GTES traded down $0.39 during midday trading on Tuesday, reaching $24.25. The company's stock had a trading volume of 2,010,207 shares, compared to its average volume of 1,986,950. The company has a current ratio of 3.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average price of $23.29 and a 200 day moving average price of $21.09. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $25.66. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 31.09 and a beta of 1.24.
Gates Industrial (NYSE:GTES - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.01. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The firm had revenue of $883.70 million for the quarter, compared to the consensus estimate of $873.34 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm's revenue was down .2% on a year-over-year basis. On average, equities research analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.
About Gates Industrial
(
Free Report)
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.
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