Gates Industrial Corp PLC (NYSE:GTES) Stock Holdings Decreased by KLCM Advisors Inc.

KLCM Advisors Inc. lowered its stake in Gates Industrial Corp PLC (NYSE:GTES) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 676,773 shares of the company’s stock after selling 36,382 shares during the period. Gates Industrial accounts for approximately 1.4% of KLCM Advisors Inc.’s holdings, making the stock its 26th biggest holding. KLCM Advisors Inc. owned 0.26% of Gates Industrial worth $9,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in shares of Gates Industrial by 796.0% in the 4th quarter. SG Americas Securities LLC now owns 88,480 shares of the company’s stock valued at $1,187,000 after buying an additional 78,605 shares during the period. Auxier Asset Management boosted its holdings in shares of Gates Industrial by 10.8% in the 3rd quarter. Auxier Asset Management now owns 174,349 shares of the company’s stock valued at $2,024,000 after buying an additional 17,000 shares during the period. Pacer Advisors Inc. boosted its stake in Gates Industrial by 20.9% during the 4th quarter. Pacer Advisors Inc. now owns 3,613,276 shares of the company’s stock valued at $48,490,000 after purchasing an additional 624,517 shares during the period. American Century Companies Inc. boosted its stake in 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 purchasing an additional 620,131 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in Gates Industrial by 28.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company’s stock valued at $165,069,000 after purchasing an additional 2,697,624 shares during the period. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Trading Up 0.2 %

Shares of GTES stock traded up $0.04 during trading hours on Wednesday, reaching $17.34. 1,673,143 shares of the stock traded hands, compared to its average volume of 2,689,459. Gates Industrial Corp PLC has a 1-year low of $10.68 and a 1-year high of $17.86. The business has a fifty day moving average price of $15.88 and a 200 day moving average price of $13.52. The company has a quick ratio of 2.25, a current ratio of 3.08 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $4.58 billion, a PE ratio of 20.40 and a beta of 1.57.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10. Gates Industrial had a net margin of 6.52% and a return on equity of 10.14%. The business had revenue of $863.30 million for the quarter, compared to analyst estimates of $892.40 million. On average, equities research analysts forecast that Gates Industrial Corp PLC will post 1.32 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on GTES shares. Evercore ISI boosted their price target 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. The Goldman Sachs Group boosted 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. Wolfe Research upgraded shares of Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Friday, March 8th. Jefferies Financial Group started 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. Finally, TheStreet upgraded shares of Gates Industrial from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Insider Activity

In related news, Director Wilson S. Neely acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $13.24 per share, with a total value of $132,400.00. Following the completion of the transaction, 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 at this link. In related news, Director Neil P. Simpkins acquired 1,000,000 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of $12.20 per share, with a total value of $12,200,000.00. Following the completion of the transaction, the director now owns 1,000,000 shares of the company’s stock, valued at approximately $12,200,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Wilson S. Neely acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average cost of $13.24 per share, for a total transaction of $132,400.00. Following the completion of the transaction, the director now directly owns 56,664 shares of the company’s stock, valued at approximately $750,231.36. The disclosure for this purchase can be found here. Insiders have bought 1,030,492 shares of company stock worth $12,582,402 over the last 90 days. 2.30% of the stock is owned by company 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.