Janus Henderson Group PLC lifted its stake in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,569,959 shares of the company's stock after purchasing an additional 85,253 shares during the period. Janus Henderson Group PLC owned about 2.58% of Gates Industrial worth $135,145,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in GTES. Principal Financial Group Inc. lifted its stake in Gates Industrial by 6,879.6% in the third quarter. Principal Financial Group Inc. now owns 1,063,838 shares of the company's stock worth $18,670,000 after acquiring an additional 1,048,596 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Gates Industrial in the fourth quarter worth about $2,154,000. Park Avenue Securities LLC lifted its stake in Gates Industrial by 29.1% in the fourth quarter. Park Avenue Securities LLC now owns 49,939 shares of the company's stock worth $1,027,000 after acquiring an additional 11,251 shares during the period. Kera Capital Partners Inc. purchased a new stake in Gates Industrial in the fourth quarter worth about $205,000. Finally, Oliver Luxxe Assets LLC purchased a new stake in Gates Industrial in the fourth quarter worth about $1,665,000. 98.50% of the stock is currently owned by institutional investors.
Insider Activity at Gates Industrial
In other Gates Industrial news, Director Fredrik J. Eliasson purchased 60,000 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the acquisition, the director now owns 188,452 shares in the company, valued at $3,686,121.12. This represents a 46.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.
Gates Industrial Stock Performance
Shares of Gates Industrial stock traded up $0.25 during midday trading on Friday, hitting $22.16. The company had a trading volume of 1,959,986 shares, compared to its average volume of 2,935,138. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 30.35 and a beta of 1.23. 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 company has a fifty day simple moving average of $18.75 and a 200 day simple moving average of $20.32. Gates Industrial Corp PLC has a 12-month low of $14.70 and a 12-month high of $23.85.
Gates Industrial (NYSE:GTES - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $823.56 million. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. Gates Industrial's revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.31 EPS. As a group, analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on GTES shares. Barclays upped their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. The Goldman Sachs Group decreased their price target on shares of Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research report on Wednesday, March 19th. Evercore ISI increased their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Royal Bank of Canada increased their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Citigroup decreased their price target on shares of Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Gates Industrial presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.89.
Check Out Our Latest Research Report on GTES
Gates Industrial Profile
(
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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