SG Americas Securities LLC Cuts Stake in Gates Industrial Corp PLC (NYSE:GTES)

SG Americas Securities LLC reduced its position in Gates Industrial Corp PLC (NYSE:GTES) by 48.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,306 shares of the company’s stock after selling 11,776 shares during the period. SG Americas Securities LLC’s holdings in Gates Industrial were worth $253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kera Capital Partners Inc. purchased a new stake in shares of Gates Industrial in the 4th quarter valued at about $205,000. Park Avenue Securities LLC grew its holdings in Gates Industrial by 29.1% in the 4th quarter. Park Avenue Securities LLC now owns 49,939 shares of the company’s stock worth $1,027,000 after acquiring an additional 11,251 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Gates Industrial during the 4th quarter valued at $2,154,000. Oliver Luxxe Assets LLC bought a new position in shares of Gates Industrial in the 4th quarter worth approximately $1,665,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Gates Industrial by 29.0% during 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 in the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Up 11.7 %

NYSE:GTES opened at $23.20 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11. The firm has a market cap of $5.91 billion, a PE ratio of 27.95 and a beta of 1.37. The company has a 50-day moving average of $21.01 and a 200 day moving average of $19.25. Gates Industrial Corp PLC has a 1-year low of $12.40 and a 1-year high of $23.34.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a net margin of 6.43% and a return on equity of 9.94%. As a group, research analysts anticipate that Gates Industrial Corp PLC will post 1.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on GTES. Citigroup reduced 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 report on Monday, January 13th. Jefferies Financial Group upped their price target 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. The Goldman Sachs Group boosted their target price on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Barclays raised shares of Gates Industrial from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $21.00 to $25.00 in a report on Thursday, December 5th. Finally, KeyCorp boosted their target price on Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Gates Industrial has a consensus rating of “Moderate Buy” and an average target price of $22.50.

About Gates Industrial

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.