Advisory Services Network LLC boosted its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 23.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,527 shares of the company’s stock after purchasing an additional 5,109 shares during the quarter. Advisory Services Network LLC’s holdings in Gates Industrial were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of GTES. Morgan Stanley increased its position in shares of Gates Industrial by 366.9% during the second quarter. Morgan Stanley now owns 358,766 shares of the company’s stock worth $4,094,000 after purchasing an additional 281,923 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Gates Industrial during the 2nd quarter worth $2,189,000. Squarepoint Ops LLC grew its stake in Gates Industrial by 136.3% during the 3rd quarter. Squarepoint Ops LLC now owns 136,900 shares of the company’s stock worth $1,379,000 after buying an additional 78,954 shares during the last quarter. California Public Employees Retirement System increased its position in Gates Industrial by 162.9% during the 4th quarter. California Public Employees Retirement System now owns 58,913 shares of the company’s stock valued at $811,000 after buying an additional 36,500 shares in the last quarter. Finally, Brasada Capital Management LP acquired a new position in Gates Industrial during the 4th quarter valued at about $378,000.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Gates Industrial from a “hold” rating to a “sell” rating in a report on Friday, January 17th. Barclays restated a “hold” rating and set a $15.00 price objective on shares of Gates Industrial in a report on Sunday, February 9th. UBS Group initiated coverage on shares of Gates Industrial in a research report on Wednesday, December 11th. They issued a “hold” rating and a $14.00 price objective for the company. Goldman Sachs Group increased their price objective on shares of Gates Industrial from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, TheStreet cut shares of Gates Industrial from a “c” rating to a “d” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $13.29.
NYSE GTES opened at $13.29 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.20 and a quick ratio of 2.33. The stock’s fifty day moving average price is $13.12 and its 200 day moving average price is $11.12. Gates Industrial Corp PLC has a 1 year low of $6.76 and a 1 year high of $16.62. The company has a market cap of $3.75 billion, a price-to-earnings ratio of 5.68 and a beta of 2.22.
Gates Industrial (NYSE:GTES) last issued its earnings results on Tuesday, February 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $725.70 million during the quarter, compared to analyst estimates of $720.00 million. Gates Industrial had a return on equity of 9.02% and a net margin of 22.35%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. Research analysts expect that Gates Industrial Corp PLC will post 0.93 earnings per share for the current year.
In other news, Director Ivo Jurek acquired 5,000 shares of Gates Industrial stock in a transaction dated Wednesday, February 12th. The stock was purchased at an average cost of $13.21 per share, for a total transaction of $66,050.00. Following the completion of the purchase, the director now directly owns 179,118 shares in the company, valued at approximately $2,366,148.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.71% of the stock is currently owned by corporate insiders.
About Gates Industrial
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.
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