Gates Industrial Corp PLC (NYSE:GTES) is Paradice Investment Management LLC's 9th Largest Position

Paradice Investment Management LLC decreased its position in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 37.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,450,140 shares of the company's stock after selling 1,460,945 shares during the quarter. Gates Industrial accounts for approximately 4.1% of Paradice Investment Management LLC's holdings, making the stock its 9th largest holding. Paradice Investment Management LLC owned 0.93% of Gates Industrial worth $32,881,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its position in 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 buying an additional 3,617,020 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Gates Industrial by 28.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company's stock worth $165,069,000 after acquiring an additional 2,697,624 shares in the last quarter. 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 purchasing an additional 1,520,338 shares during the last quarter. LSV Asset Management grew its stake in Gates Industrial by 103.7% in the fourth quarter. LSV Asset Management now owns 2,809,223 shares of the company's stock valued at $37,700,000 after purchasing an additional 1,430,149 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Gates Industrial by 14.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,708,198 shares of the company's stock worth $130,285,000 after purchasing an additional 1,239,261 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded down $0.05 during trading on Friday, reaching $17.35. 2,710,931 shares of the stock were exchanged, compared to its average volume of 2,868,202. Gates Industrial Corp PLC has a 12 month low of $10.68 and a 12 month high of $17.99. The stock has a 50-day moving average price of $17.24 and a 200-day moving average price of $14.45. The company has a current ratio of 3.06, a quick ratio of 2.15 and a debt-to-equity ratio of 0.69. The firm has a market cap of $4.53 billion, a PE ratio of 19.07 and a beta of 1.54.

Analysts Set New Price Targets

GTES has been the subject of several recent analyst reports. KeyCorp raised Gates Industrial from a "sector weight" rating to an "overweight" rating and set a $18.00 price objective for the company in a report on Thursday, February 22nd. Evercore ISI lifted their price objective on shares of Gates Industrial from $12.50 to $14.00 and gave the company an "in-line" rating in a research report on Tuesday, February 20th. Jefferies Financial Group assumed coverage on shares of Gates Industrial in a report on Thursday, February 29th. They issued a "buy" rating and a $21.00 target price on the stock. Citigroup lifted their price target on Gates Industrial from $17.00 to $20.00 and gave the stock a "buy" rating in a report on Monday, April 8th. Finally, The Goldman Sachs Group upped their price objective on Gates Industrial from $16.00 to $18.00 and gave the company a "neutral" rating in a research note on Tuesday, April 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.88.

Insider Activity at Gates Industrial

In other Gates Industrial news, Director Wilson S. Neely purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of $13.24 per share, for a total transaction of $132,400.00. Following the completion of the purchase, the director now owns 56,664 shares of the company's stock, valued at approximately $750,231.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

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.