Gates Industrial Corp PLC (NYSE:GTES) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Gates Industrial Corp PLC (NYSE:GTES) by 48.9% in the fourth quarter, Holdings Channel reports. The institutional investor 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 filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC increased 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 worth $68,000 after purchasing an additional 2,998 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in Gates Industrial in the 3rd quarter valued at about $597,000. Jennison Associates LLC lifted its position in Gates Industrial by 45.9% in the third quarter. Jennison Associates LLC now owns 4,032,089 shares of the company’s stock valued at $70,763,000 after buying an additional 1,268,407 shares during the last quarter. Foundry Partners LLC acquired a new position in Gates Industrial in the third quarter valued at about $4,247,000. Finally, Verition Fund Management LLC boosted its position in shares of Gates Industrial by 322.7% during the 3rd quarter. Verition Fund Management LLC now owns 379,509 shares of the company’s stock worth $6,660,000 after purchasing an additional 289,722 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Gates Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. The Goldman Sachs Group increased their target price 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. Barclays raised Gates Industrial from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $25.00 in a report on Thursday, December 5th. KeyCorp upped their price objective on Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group increased their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Gates Industrial Stock Up 11.7 %

Shares of NYSE:GTES opened at $23.20 on Friday. The company has a market capitalization of $5.91 billion, a P/E ratio of 27.95 and a beta of 1.37. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $21.01 and its 200-day simple moving average is $19.25. Gates Industrial Corp PLC has a 52-week low of $12.40 and a 52-week high of $23.34.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, hitting 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, equities research analysts forecast that Gates Industrial Corp PLC will post 1.26 earnings per share for the current fiscal year.

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.