Charles Schwab Investment Management Inc. Acquires 123,859 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Charles Schwab Investment Management Inc. increased its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,454,969 shares of the company’s stock after buying an additional 123,859 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.96% of Gates Industrial worth $50,499,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. SRS Capital Advisors Inc. increased its holdings in Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock worth $54,000 after purchasing an additional 724 shares in the last quarter. Bailard Inc. increased its stake in shares of Gates Industrial by 14.5% in the fourth quarter. Bailard Inc. now owns 21,339 shares of the company’s stock valued at $439,000 after buying an additional 2,700 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Gates Industrial by 14.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 9,005 shares of the company’s stock valued at $184,000 after buying an additional 1,140 shares during the period. GW&K Investment Management LLC increased its stake in shares of Gates Industrial by 25.8% in the fourth quarter. GW&K Investment Management LLC now owns 5,105,351 shares of the company’s stock valued at $105,017,000 after buying an additional 1,047,946 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Gates Industrial by 5.1% in the fourth quarter. QRG Capital Management Inc. now owns 36,459 shares of the company’s stock valued at $750,000 after buying an additional 1,781 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on GTES. Evercore ISI raised their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Royal Bank of Canada raised their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. KeyCorp increased their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. The Goldman Sachs Group increased their price target on Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Barclays cut their price target on Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and a consensus price target of $24.22.

Insider Activity

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of Gates Industrial stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the transaction, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Gates Industrial Stock Performance

NYSE:GTES opened at $18.82 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The business has a fifty day simple moving average of $20.97 and a two-hundred day simple moving average of $19.97. Gates Industrial Corp PLC has a 1 year low of $15.14 and a 1 year high of $23.85. The company has a market capitalization of $4.81 billion, a P/E ratio of 25.77 and a beta of 1.33.

Gates Industrial (NYSE:GTES) last released its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, analysts expect that Gates Industrial Corp PLC will post 1.36 earnings per share for the current 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.