SG Americas Securities LLC Acquires 78,605 Shares of Gates Industrial Corp PLC (NYSE:GTES)

SG Americas Securities LLC raised its position in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 796.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,480 shares of the company's stock after acquiring an additional 78,605 shares during the quarter. SG Americas Securities LLC's holdings in Gates Industrial were worth $1,187,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Gates Industrial by 12.4% during the third quarter. Vanguard Group Inc. now owns 13,810,748 shares of the company's stock valued at $160,343,000 after acquiring an additional 1,520,338 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Gates Industrial by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,602,568 shares of the company's stock worth $111,486,000 after purchasing an additional 47,587 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Gates Industrial by 8.9% during the 3rd quarter. American Century Companies Inc. now owns 7,602,491 shares of the company's stock worth $88,265,000 after purchasing an additional 620,131 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Gates Industrial by 105.5% during the 3rd quarter. AQR Capital Management LLC now owns 7,044,308 shares of the company's stock worth $81,784,000 after purchasing an additional 3,617,020 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Gates Industrial by 9.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,091,242 shares of the company's stock worth $84,605,000 after purchasing an additional 551,103 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

GTES has been the topic of a number of research analyst reports. KeyCorp raised shares of Gates Industrial from a "sector weight" rating to an "overweight" rating and set a $18.00 price objective on the stock in a research report on Thursday, February 22nd. Evercore ISI increased their price objective on shares of Gates Industrial from $12.50 to $14.00 and gave the stock an "in-line" rating in a research report on Tuesday, February 20th. Jefferies Financial Group assumed coverage on shares of Gates Industrial in a research report on Thursday, February 29th. They set a "buy" rating and a $21.00 price objective on the stock. Wolfe Research upgraded shares of Gates Industrial from a "peer perform" rating to an "outperform" rating and set a $20.00 target price on the stock in a report on Friday, March 8th. Finally, TheStreet upgraded shares of Gates Industrial from a "c+" rating to a "b-" rating in a report on Monday, January 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Gates Industrial presently has an average rating of "Moderate Buy" and a consensus price target of $17.17.

Gates Industrial Stock Down 0.2 %

NYSE:GTES traded down $0.03 on Friday, hitting $17.71. The stock had a trading volume of 2,152,402 shares, compared to its average volume of 4,149,715. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.25 and a current ratio of 3.08. The stock has a market cap of $4.68 billion, a P/E ratio of 20.84 and a beta of 1.55. Gates Industrial Corp PLC has a 1 year low of $10.68 and a 1 year high of $17.81. The firm's fifty day simple moving average is $14.82 and its two-hundred day simple moving average is $13.03.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.27 by $0.10. The firm had revenue of $863.30 million during the quarter, compared to analyst estimates of $892.40 million. Gates Industrial had a net margin of 6.52% and a return on equity of 10.14%. Analysts predict that Gates Industrial Corp PLC will post 1.32 earnings per share for the current year.

Insider Buying and Selling

In other Gates Industrial news, major shareholder Blackstone Inc. sold 24,276,100 shares of the firm's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.04, for a total value of $292,284,244.00. Following the completion of the transaction, the insider now directly owns 107,324 shares of the company's stock, valued at approximately $1,292,180.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Gates Industrial news, major shareholder Blackstone Inc. sold 24,276,100 shares of the business's stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.04, for a total value of $292,284,244.00. Following the completion of the sale, the insider now directly owns 107,324 shares of the company's stock, valued at $1,292,180.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Neil P. Simpkins purchased 1,000,000 shares of the stock in a transaction on Friday, February 16th. The stock was acquired at an average cost of $12.20 per share, with a total value of $12,200,000.00. Following the completion of the purchase, the director now directly owns 1,000,000 shares of the company's stock, valued at $12,200,000. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,030,492 shares of company stock valued at $12,582,402. Company insiders own 2.30% of the company's stock.

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.