Gates Industrial Corp PLC (NYSE:GTES) Shares Sold by Foundry Partners LLC

Foundry Partners LLC reduced its position in Gates Industrial Corp PLC (NYSE:GTES) by 23.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,253 shares of the company’s stock after selling 56,727 shares during the quarter. Foundry Partners LLC owned approximately 0.07% of Gates Industrial worth $3,811,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GTES. Stifel Financial Corp raised its position in shares of Gates Industrial by 40.3% during the 3rd quarter. Stifel Financial Corp now owns 139,338 shares of the company’s stock valued at $2,445,000 after acquiring an additional 40,027 shares in the last quarter. Park Avenue Securities LLC raised its holdings 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 period. Wexford Capital LP bought a new position in shares of Gates Industrial in the 3rd quarter worth about $456,000. GAMMA Investing LLC boosted its holdings in shares of Gates Industrial by 29.0% in the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock valued at $103,000 after buying an additional 1,130 shares during the period. Finally, Oliver Luxxe Assets LLC bought a new stake in shares of Gates Industrial during the 4th quarter valued at about $1,665,000. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Down 6.5 %

Gates Industrial stock opened at $15.78 on Friday. Gates Industrial Corp PLC has a 52 week low of $15.11 and a 52 week high of $23.85. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 21.61 and a beta of 1.24. The company’s 50-day moving average price is $20.48 and its two-hundred day moving average price is $20.16. 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 (NYSE:GTES) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. On average, analysts expect that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada lifted their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays reduced their price objective on Gates Industrial from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Evercore ISI increased their target price 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. The Goldman Sachs Group lowered their price target on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group lifted their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.00.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson acquired 60,000 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the purchase, the director now directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

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.