Gates Industrial Corp PLC (NYSE:GTES) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 51.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,481 shares of the company's stock after selling 51,776 shares during the period. Voya Investment Management LLC's holdings in Gates Industrial were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Gates Industrial by 21.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 126,892 shares of the company's stock worth $2,611,000 after acquiring an additional 22,445 shares during the period. Dark Forest Capital Management LP purchased a new stake in shares of Gates Industrial in the 4th quarter worth approximately $670,000. Yaupon Capital Management LP bought a new position in Gates Industrial in the fourth quarter worth approximately $6,101,000. Hsbc Holdings PLC purchased a new stake in Gates Industrial during the fourth quarter worth $983,000. Finally, Stifel Financial Corp boosted its position in Gates Industrial by 7.0% during the 4th quarter. Stifel Financial Corp now owns 149,113 shares of the company's stock valued at $3,067,000 after acquiring an additional 9,775 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded up $0.09 on Friday, reaching $20.75. The company's stock had a trading volume of 1,326,978 shares, compared to its average volume of 2,971,964. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. Gates Industrial Corp PLC has a 52-week low of $14.70 and a 52-week high of $23.85. The stock's 50-day moving average is $18.51 and its two-hundred day moving average is $20.19. The stock has a market capitalization of $5.35 billion, a P/E ratio of 28.42 and a beta of 1.23.

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

Insider Activity at Gates Industrial

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on GTES shares. Citigroup reduced their price objective on shares of Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price target on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. KeyCorp boosted their price objective on Gates Industrial from $21.00 to $23.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. 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 report on Thursday, May 1st. Finally, Evercore ISI upped their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Gates Industrial has a consensus rating of "Moderate Buy" and an average price target of $22.78.

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.