Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 9.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,921,356 shares of the company’s stock after buying an additional 1,037,741 shares during the quarter. Dimensional Fund Advisors LP owned about 4.56% of Gates Industrial worth $188,477,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in Gates Industrial by 102.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,222,241 shares of the company’s stock worth $19,324,000 after buying an additional 619,670 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Gates Industrial by 30.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 72,762 shares of the company’s stock worth $1,150,000 after buying an additional 17,052 shares during the last quarter. Jupiter Asset Management Ltd. grew its stake in Gates Industrial by 32.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 1,183,957 shares of the company’s stock worth $18,718,000 after buying an additional 291,263 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in Gates Industrial during the 2nd quarter worth approximately $1,701,000. Finally, Headlands Technologies LLC grew its stake in Gates Industrial by 341.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock worth $27,000 after buying an additional 1,320 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other news, Director Wilson S. Neely acquired 11,952 shares of Gates Industrial stock in a transaction that occurred on Wednesday, August 21st. The stock was purchased at an average cost of $16.80 per share, with a total value of $200,793.60. Following the completion of the acquisition, the director now owns 6,000 shares in the company, valued at approximately $100,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GTES shares. The Goldman Sachs Group raised their price target on Gates Industrial from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird lowered their target price on Gates Industrial from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Evercore ISI lifted their target price on Gates Industrial from $15.00 to $16.00 and gave the company an “in-line” rating in a research note on Monday, August 19th. Morgan Stanley began coverage on Gates Industrial in a research note on Friday, September 6th. They issued an “equal weight” rating and a $19.00 target price on the stock. Finally, Barclays lowered their target price on Gates Industrial from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 4th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Gates Industrial currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.40.

Gates Industrial Stock Up 4.0 %

Gates Industrial stock opened at $18.14 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.11 and a quick ratio of 2.20. Gates Industrial Corp PLC has a 1-year low of $10.68 and a 1-year high of $19.07. The company has a market cap of $4.74 billion, a PE ratio of 19.93 and a beta of 1.41. The stock’s 50 day moving average price is $17.21 and its 200 day moving average price is $16.94.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data 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. The firm had revenue of $885.50 million during the quarter, compared to analysts’ expectations of $893.00 million. Gates Industrial had a return on equity of 10.27% and a net margin of 7.24%. On average, sell-side analysts predict that Gates Industrial Corp PLC will post 1.24 EPS for the current fiscal year.

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.