Stifel Financial Corp Grows Stock Position in Gates Industrial Corp PLC (NYSE:GTES)

Stifel Financial Corp increased its stake in Gates Industrial Corp PLC (NYSE:GTES) by 40.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 139,338 shares of the company’s stock after purchasing an additional 40,027 shares during the quarter. Stifel Financial Corp owned approximately 0.05% of Gates Industrial worth $2,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GTES. Headlands Technologies LLC lifted its holdings in Gates Industrial by 341.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock worth $27,000 after purchasing an additional 1,320 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Gates Industrial by 35.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after purchasing an additional 814 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Gates Industrial during the 3rd quarter valued at about $67,000. GAMMA Investing LLC grew its position in shares of Gates Industrial by 333.9% during the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after purchasing an additional 2,998 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Gates Industrial in the third quarter worth about $71,000. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

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

Gates Industrial Stock Performance

Shares of Gates Industrial stock opened at $20.83 on Thursday. Gates Industrial Corp PLC has a 52 week low of $12.40 and a 52 week high of $23.34. The company has a market capitalization of $5.31 billion, a PE ratio of 25.10 and a beta of 1.38. The stock’s fifty day moving average is $20.47 and its two-hundred day moving average is $18.15. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70.

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.