Gates Industrial Corp PLC (NYSE:GTES) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd lessened its stake in Gates Industrial Corp PLC (NYSE:GTES) by 90.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 37,788 shares of the company’s stock after selling 359,759 shares during the period. WINTON GROUP Ltd’s holdings in Gates Industrial were worth $777,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock valued at $32,000 after purchasing an additional 1,514 shares during the period. Versant Capital Management Inc lifted its holdings in Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after buying an additional 1,598 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after buying an additional 724 shares during the period. Quarry LP acquired a new position in shares of Gates Industrial in the third quarter worth $71,000. Finally, GAMMA Investing LLC increased its position in shares of Gates Industrial by 29.0% during the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after acquiring an additional 1,130 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Evercore ISI boosted their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group cut their target price 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 decreased their price target 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. Royal Bank of Canada increased their price objective 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. Finally, Jefferies Financial Group lifted their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the stock 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insider Buying and Selling at Gates Industrial

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

Gates Industrial Price Performance

Shares of NYSE:GTES opened at $18.48 on Friday. Gates Industrial Corp PLC has a 12 month low of $15.14 and a 12 month high of $23.85. The firm has a market capitalization of $4.72 billion, a P/E ratio of 25.31 and a beta of 1.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The company’s fifty day moving average price is $20.77 and its 200 day moving average price is $20.15.

Gates Industrial (NYSE:GTES) last posted its earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. As a group, sell-side analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal 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.