Gates Industrial Corp PLC (NYSE:GTES) Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,540 shares of the company’s stock after purchasing an additional 1,452 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Gates Industrial were worth $464,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Mutual of America Capital Management LLC acquired a new position in Gates Industrial during the 3rd quarter worth $597,000. Verition Fund Management LLC grew its position in shares of Gates Industrial by 322.7% during the third quarter. Verition Fund Management LLC now owns 379,509 shares of the company’s stock worth $6,660,000 after buying an additional 289,722 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Gates Industrial by 40.3% during the third quarter. Stifel Financial Corp now owns 139,338 shares of the company’s stock worth $2,445,000 after buying an additional 40,027 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Gates Industrial by 22.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,331,110 shares of the company’s stock valued at $40,911,000 after acquiring an additional 428,297 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Gates Industrial by 29.1% in the fourth 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. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on GTES. Citigroup dropped their price objective on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Royal Bank of Canada raised their price target on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Evercore ISI lifted their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. KeyCorp increased their price objective on Gates Industrial from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Barclays decreased their target price on Gates Industrial from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Gates Industrial has a consensus rating of “Moderate Buy” and a consensus price target of $24.11.

Gates Industrial Trading Down 1.7 %

GTES opened at $19.33 on Monday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 26.48 and a beta of 1.33. Gates Industrial Corp PLC has a 52 week low of $15.14 and a 52 week high of $23.85. The business’s 50 day moving average is $20.84 and its two-hundred day moving average is $20.07. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72.

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 5.72% and a return on equity of 9.75%. On average, research analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Insider Transactions at Gates Industrial

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased 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 directly owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Gates Industrial 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.