MML Investors Services LLC Acquires 27,363 Shares of Gates Industrial Corp PLC (NYSE:GTES)

MML Investors Services LLC raised its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 32.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 112,047 shares of the company's stock after purchasing an additional 27,363 shares during the quarter. MML Investors Services LLC's holdings in Gates Industrial were worth $2,305,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. MetLife Investment Management LLC lifted its position in shares of Gates Industrial by 15.8% during 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 during the last quarter. Mesirow Institutional Investment Management Inc. increased its stake in Gates Industrial by 13.2% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 852,593 shares of the company's stock worth $17,538,000 after purchasing an additional 99,505 shares in the last quarter. Fiduciary Management Inc. WI raised its holdings in Gates Industrial by 0.3% during the 4th quarter. Fiduciary Management Inc. WI now owns 7,224,844 shares of the company's stock worth $148,615,000 after buying an additional 21,191 shares during the period. GeoWealth Management LLC lifted its stake in 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 in the last quarter. Finally, Commerce Bank acquired a new position in shares of Gates Industrial in the fourth quarter worth about $375,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Stock Up 4.0 %

GTES traded up $0.77 during midday trading on Friday, hitting $19.82. 3,046,953 shares of the company's stock traded hands, compared to its average volume of 2,973,273. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The company has a market cap of $5.11 billion, a PE ratio of 27.15 and a beta of 1.23. The stock's fifty day simple moving average is $18.55 and its 200-day simple moving average is $20.14. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85.

Gates Industrial (NYSE:GTES - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $847.60 million for 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%. Gates Industrial's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. As a group, equities analysts anticipate that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Fredrik J. Eliasson acquired 60,000 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GTES has been the subject of several research analyst reports. Barclays reduced their price target on shares of Gates Industrial from $25.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Evercore ISI raised their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Morgan Stanley dropped their price target on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday. KeyCorp raised their price objective on Gates Industrial from $21.00 to $23.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Citigroup dropped their target price on Gates Industrial from $27.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.78.

Gates Industrial Company 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.