Quantinno Capital Management LP Has $8.33 Million Stock Position in Gates Industrial Corp PLC (NYSE:GTES)

Quantinno Capital Management LP raised its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 100.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 404,852 shares of the company's stock after acquiring an additional 202,588 shares during the quarter. Quantinno Capital Management LP owned approximately 0.16% of Gates Industrial worth $8,328,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. GeoWealth Management LLC grew 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 worth $25,000 after acquiring an additional 789 shares during the last quarter. Assetmark Inc. increased its stake in Gates Industrial by 2,968.6% in the fourth 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 acquired a new position in Gates Industrial in the fourth quarter valued at $43,000. SRS Capital Advisors Inc. raised its holdings in shares of Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company's stock valued at $54,000 after buying an additional 724 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Gates Industrial by 15.8% during the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after buying an additional 567 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on GTES. Morgan Stanley cut their price target on shares of Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Evercore ISI lifted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Royal Bank of Canada upped their price objective on Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. KeyCorp increased their price target on Gates Industrial from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Citigroup dropped their price target on shares of Gates Industrial from $27.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Gates Industrial presently has a consensus rating of "Moderate Buy" and an average price target of $22.89.

Insider Activity at Gates Industrial

In other news, Director Fredrik J. Eliasson acquired 60,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was purchased 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 of the company's stock, valued at $3,686,121.12. This trade represents a 46.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is currently owned by company insiders.

Gates Industrial Stock Performance

GTES stock traded down $0.32 during midday trading on Wednesday, hitting $21.28. 674,160 shares of the company traded hands, compared to its average volume of 2,911,441. Gates Industrial Corp PLC has a twelve month low of $14.70 and a twelve month high of $23.85. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The business has a 50 day simple moving average of $18.86 and a 200-day simple moving average of $20.35. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of 29.15 and a beta of 1.23.

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

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.