Gates Industrial Corp PLC (NYSE:GTES) Shares Purchased by Savant Capital LLC

Savant Capital LLC increased its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,913 shares of the company’s stock after acquiring an additional 1,629 shares during the period. Savant Capital LLC’s holdings in Gates Industrial were worth $2,569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in shares of Gates Industrial by 112.9% during the 3rd quarter. State Street Corp now owns 6,523,366 shares of the company’s stock worth $114,485,000 after purchasing an additional 3,459,450 shares during the last quarter. Zimmer Partners LP raised its holdings in shares of Gates Industrial by 141.2% during the third quarter. Zimmer Partners LP now owns 4,213,452 shares of the company’s stock valued at $73,946,000 after acquiring an additional 2,466,543 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Gates Industrial by 138.0% in the third quarter. Franklin Resources Inc. now owns 3,829,155 shares of the company’s stock valued at $68,159,000 after acquiring an additional 2,220,277 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Gates Industrial by 31.5% in the fourth quarter. Jennison Associates LLC now owns 5,300,805 shares of the company’s stock worth $109,038,000 after acquiring an additional 1,268,716 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Gates Industrial by 6,879.6% during the third quarter. Principal Financial Group Inc. now owns 1,063,838 shares of the company’s stock worth $18,670,000 after purchasing an additional 1,048,596 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GTES. Barclays upgraded shares of Gates Industrial from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $21.00 to $25.00 in a research report on Thursday, December 5th. KeyCorp lifted their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their target price on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Citigroup decreased their target price on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Gates Industrial currently has a consensus rating of “Moderate Buy” and an average price target of $23.00.

Gates Industrial Stock Down 0.8 %

Gates Industrial stock opened at $22.19 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.11 and a current ratio of 3.02. The firm has a 50 day moving average price of $21.02 and a 200 day moving average price of $19.40. Gates Industrial Corp PLC has a fifty-two week low of $12.41 and a fifty-two week high of $23.34. The company has a market capitalization of $5.65 billion, a PE ratio of 30.40 and a beta of 1.37.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. Gates Industrial had a return on equity of 9.65% and a net margin of 5.72%. Research analysts expect that Gates Industrial Corp PLC will post 1.4 earnings per share for the current year.

Gates Industrial Company 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.