Janus Henderson Group PLC Purchases 85,253 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Janus Henderson Group PLC raised its position in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 1.3% in the 4th quarter, according to 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 quarter. Janus Henderson Group PLC owned 2.58% of Gates Industrial worth $135,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GTES. GeoWealth Management LLC boosted its position in shares of Gates Industrial by 187.4% during the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock valued at $25,000 after buying an additional 789 shares during the last quarter. Assetmark Inc. raised its stake in shares of Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company's stock valued at $32,000 after purchasing an additional 1,514 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Gates Industrial during the 4th quarter worth approximately $43,000. SRS Capital Advisors Inc. grew its position in shares of Gates Industrial by 38.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after purchasing an additional 724 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Gates Industrial by 15.8% in the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock valued at $86,000 after acquiring an additional 567 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Stock Performance

Shares of GTES traded up $0.25 during mid-day trading on Friday, hitting $22.16. 1,959,986 shares of the company traded hands, compared to its average volume of 2,973,590. 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 debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The stock has a 50-day moving average price of $18.70 and a two-hundred day moving average price of $20.28. Gates Industrial Corp PLC has a 1 year low of $14.70 and a 1 year high of $23.85.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Gates Industrial from $26.00 to $23.00 and set a "neutral" rating for the company in a research note on Wednesday, March 19th. KeyCorp boosted their price objective on shares of 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 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. Barclays raised their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Morgan Stanley reduced their target price on shares of Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Insider Buying and Selling

In other news, Director Fredrik J. Eliasson purchased 60,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the purchase, the director now owns 188,452 shares in the company, valued at approximately $3,686,121.12. This represents a 46.71% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

About Gates Industrial

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.