Gates Industrial Corp PLC (NYSE:GTES) Stake Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund increased its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,880 shares of the company’s stock after buying an additional 3,980 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Gates Industrial were worth $2,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Amalgamated Bank grew its stake in Gates Industrial by 1.5% during the 4th quarter. Amalgamated Bank now owns 70,711 shares of the company’s stock valued at $1,455,000 after acquiring an additional 1,047 shares in the last quarter. Bank of New York Mellon Corp grew its position in Gates Industrial by 101.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,719,239 shares of the company’s stock valued at $55,935,000 after purchasing an additional 1,366,431 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Gates Industrial by 10.4% in the 4th quarter. Handelsbanken Fonder AB now owns 1,372,300 shares of the company’s stock valued at $28,228,000 after buying an additional 129,700 shares during the period. New York State Common Retirement Fund increased its stake in Gates Industrial by 9.3% in the 4th quarter. New York State Common Retirement Fund now owns 1,036,880 shares of the company’s stock valued at $21,329,000 after buying an additional 88,055 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Gates Industrial by 180.6% in the 4th quarter. Venturi Wealth Management LLC now owns 8,640 shares of the company’s stock worth $178,000 after buying an additional 5,561 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Trading Down 0.5 %

NYSE:GTES opened at $21.29 on Friday. The company’s 50 day moving average is $21.11 and its 200-day moving average is $19.79. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. Gates Industrial Corp PLC has a 12 month low of $14.45 and a 12 month high of $23.85. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 29.16 and a beta of 1.37.

Gates Industrial (NYSE:GTES) last announced its earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. Equities analysts anticipate that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on GTES. The Goldman Sachs Group upped their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Jefferies Financial Group raised their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays lifted their price target on Gates Industrial from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Royal Bank of Canada increased their price objective on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Citigroup reduced their target price on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.90.

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.