Fiduciary Management Inc. WI Purchases 21,191 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Fiduciary Management Inc. WI lifted its position in Gates Industrial Corp PLC (NYSE:GTES) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,224,844 shares of the company’s stock after acquiring an additional 21,191 shares during the period. Fiduciary Management Inc. WI’s holdings in Gates Industrial were worth $148,615,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GTES. Park Avenue Securities LLC lifted its position in shares of Gates Industrial by 29.1% during the fourth quarter. Park Avenue Securities LLC now owns 49,939 shares of the company’s stock worth $1,027,000 after purchasing an additional 11,251 shares during the last quarter. GAMMA Investing LLC grew its stake in Gates Industrial by 29.0% in the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after acquiring an additional 1,130 shares in the last quarter. Oliver Luxxe Assets LLC purchased a new position in shares of Gates Industrial during the fourth quarter worth approximately $1,665,000. Assenagon Asset Management S.A. bought a new stake in shares of Gates Industrial during the fourth quarter valued at approximately $2,154,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Gates Industrial by 16.0% in the third quarter. Geode Capital Management LLC now owns 3,460,855 shares of the company’s stock valued at $60,755,000 after purchasing an additional 476,962 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the business’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the transaction, the director now owns 188,452 shares of the company’s stock, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their price target on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. The Goldman Sachs Group dropped their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 19th. Citigroup reduced their price objective on shares of Gates Industrial from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Evercore ISI boosted their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, KeyCorp cut their target price on Gates Industrial from $27.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.67.

Gates Industrial Trading Up 0.5 %

NYSE GTES opened at $16.93 on Friday. The stock has a market cap of $4.32 billion, a P/E ratio of 23.19 and a beta of 1.24. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Gates Industrial Corp PLC has a 12-month low of $14.70 and a 12-month high of $23.85. The company has a fifty day simple moving average of $19.45 and a two-hundred day simple moving average of $20.08.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, analysts forecast 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.