Dimensional Fund Advisors LP Buys 1,239,261 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Dimensional Fund Advisors LP boosted its position in Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 14.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,708,198 shares of the company's stock after acquiring an additional 1,239,261 shares during the quarter. Dimensional Fund Advisors LP owned 3.68% of Gates Industrial worth $130,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GTES. Vanguard Group Inc. lifted its holdings in shares of Gates Industrial by 12.4% during the 3rd 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Gates Industrial by 28.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company's stock worth $165,069,000 after buying an additional 2,697,624 shares during the period. Cooke & Bieler LP grew its stake in shares of Gates Industrial by 7.9% in the fourth quarter. Cooke & Bieler LP now owns 8,154,009 shares of the company's stock valued at $109,427,000 after buying an additional 594,559 shares in the last quarter. American Century Companies Inc. raised its holdings 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 valued at $88,265,000 after buying an additional 620,131 shares during the period. Finally, 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 acquiring an additional 3,617,020 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Transactions at Gates Industrial

In related news, Director Wilson S. Neely purchased 10,000 shares of the company's stock in a transaction on Tuesday, February 20th. The shares were bought at an average price of $13.24 per share, with a total value of $132,400.00. Following the completion of the acquisition, the director now owns 56,664 shares of the company's stock, valued at $750,231.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company's stock.

Gates Industrial Price Performance

GTES traded down $0.05 during trading on Friday, reaching $17.35. The stock had a trading volume of 2,710,931 shares, compared to its average volume of 2,868,202. The stock has a 50 day moving average of $17.24 and a two-hundred day moving average of $14.48. The company has a quick ratio of 2.15, a current ratio of 3.06 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 19.07 and a beta of 1.54. Gates Industrial Corp PLC has a 1-year low of $10.68 and a 1-year high of $17.99.

Wall Street Analysts Forecast Growth

GTES has been the topic of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Gates Industrial from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Thursday, May 2nd. The Goldman Sachs Group raised their price target on shares of Gates Industrial from $16.00 to $18.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 16th. Wolfe Research raised Gates Industrial from a "peer perform" rating to an "outperform" rating and set a $20.00 target price for the company in a report on Friday, March 8th. KeyCorp raised shares of Gates Industrial from a "sector weight" rating to an "overweight" rating and set a $18.00 price target for the company in a report on Thursday, February 22nd. Finally, Evercore ISI raised their price target on shares of Gates Industrial from $12.50 to $14.00 and gave the company an "in-line" rating in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $18.88.

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.