Gates Industrial Corp PLC (NYSE:GTES) Position Raised by Versant Capital Management Inc

Versant Capital Management Inc raised its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 178.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,494 shares of the company’s stock after purchasing an additional 1,598 shares during the quarter. Versant Capital Management Inc’s holdings in Gates Industrial were worth $51,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GTES. Allspring Global Investments Holdings LLC boosted its stake in Gates Industrial by 2.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,929,377 shares of the company’s stock valued at $262,011,000 after buying an additional 303,353 shares in the last quarter. FMR LLC lifted its stake in Gates Industrial by 4.5% during the third quarter. FMR LLC now owns 13,059,271 shares of the company’s stock valued at $229,190,000 after purchasing an additional 562,643 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Gates Industrial by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 11,921,356 shares of the company’s stock worth $188,477,000 after buying an additional 1,037,741 shares in the last quarter. State Street Corp grew its position in Gates Industrial by 112.9% in the third quarter. State Street Corp now owns 6,523,366 shares of the company’s stock worth $114,485,000 after buying an additional 3,459,450 shares during the last quarter. Finally, Zimmer Partners LP increased its holdings in shares of Gates Industrial by 141.2% in the third quarter. Zimmer Partners LP now owns 4,213,452 shares of the company’s stock valued at $73,946,000 after buying an additional 2,466,543 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. KeyCorp boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Barclays upgraded Gates Industrial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $25.00 in a research report on Thursday, December 5th. Jefferies Financial Group upped their target price on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada raised their price target on shares of Gates Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Gates Industrial presently has an average rating of “Moderate Buy” and an average target price of $22.80.

Gates Industrial Stock Up 1.7 %

Gates Industrial stock opened at $20.76 on Monday. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70. Gates Industrial Corp PLC has a 1-year low of $12.40 and a 1-year high of $23.34. The firm’s fifty day simple moving average is $21.12 and its 200-day simple moving average is $18.53. The company has a market capitalization of $5.29 billion, a P/E ratio of 25.01 and a beta of 1.38.

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.