WINTON GROUP Ltd Has $277,000 Holdings in Gates Industrial Corp PLC (NYSE:GTES)

WINTON GROUP Ltd cut its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 59.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,528 shares of the company’s stock after selling 25,663 shares during the period. WINTON GROUP Ltd’s holdings in Gates Industrial were worth $277,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC grew its stake in shares of Gates Industrial by 341.1% during the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock worth $27,000 after purchasing an additional 1,320 shares during the period. TFO Wealth Partners LLC grew its stake in Gates Industrial by 68,390.0% in the fourth quarter. TFO Wealth Partners LLC now owns 6,849 shares of the company’s stock valued at $92,000 after acquiring an additional 6,839 shares during the period. Johnson Financial Group Inc. grew its stake in Gates Industrial by 26.4% in the fourth quarter. Johnson Financial Group Inc. now owns 7,919 shares of the company’s stock valued at $106,000 after acquiring an additional 1,654 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Gates Industrial in the fourth quarter valued at about $147,000. Finally, Levin Capital Strategies L.P. acquired a new position in Gates Industrial in the second quarter valued at about $158,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GTES has been the subject of a number of research analyst reports. Barclays decreased their target price on Gates Industrial from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 4th. Morgan Stanley initiated coverage on Gates Industrial in a research note on Friday, September 6th. They issued an “equal weight” rating and a $19.00 target price for the company. Robert W. Baird decreased their target price on Gates Industrial from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Evercore ISI boosted their price target on Gates Industrial from $15.00 to $16.00 and gave the company an “in-line” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group boosted their price target on Gates Industrial from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Gates Industrial presently has an average rating of “Moderate Buy” and a consensus target price of $19.40.

Gates Industrial Stock Performance

GTES opened at $17.44 on Thursday. Gates Industrial Corp PLC has a 52-week low of $10.68 and a 52-week high of $19.07. The firm has a market capitalization of $4.56 billion, a PE ratio of 19.16 and a beta of 1.41. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.20 and a current ratio of 3.11. The business’s 50-day simple moving average is $17.16 and its 200 day simple moving average is $16.93.

Gates Industrial (NYSE:GTES) last released its earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Gates Industrial had a return on equity of 10.27% and a net margin of 7.24%. The business had revenue of $885.50 million for the quarter, compared to analyst estimates of $893.00 million. As a group, sell-side analysts expect that Gates Industrial Corp PLC will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Gates Industrial news, Director Wilson S. Neely purchased 11,952 shares of the stock in a transaction on Wednesday, August 21st. The shares were purchased at an average price of $16.80 per share, with a total value of $200,793.60. Following the completion of the transaction, the director now directly owns 6,000 shares in the company, valued at $100,800. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

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.