Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by Natixis Advisors LLC

Natixis Advisors LLC boosted its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 27.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 217,494 shares of the company’s stock after acquiring an additional 46,709 shares during the period. Natixis Advisors LLC owned 0.09% of Gates Industrial worth $4,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GTES. State Street Corp grew its stake in Gates Industrial by 112.9% in the 3rd quarter. State Street Corp now owns 6,523,366 shares of the company’s stock valued at $114,485,000 after acquiring an additional 3,459,450 shares during the last quarter. Zimmer Partners LP boosted its stake in shares of Gates Industrial by 141.2% during the 3rd quarter. Zimmer Partners LP now owns 4,213,452 shares of the company’s stock worth $73,946,000 after purchasing an additional 2,466,543 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Gates Industrial by 138.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,829,155 shares of the company’s stock worth $68,159,000 after purchasing an additional 2,220,277 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Gates Industrial during the 4th quarter worth about $42,080,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Gates Industrial by 101.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,719,239 shares of the company’s stock worth $55,935,000 after purchasing an additional 1,366,431 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Gates Industrial news, Director Fredrik J. Eliasson bought 60,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were acquired at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the purchase, the director now owns 188,452 shares in the company, valued at approximately $3,686,121.12. The trade was a 46.71 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on GTES. Jefferies Financial Group raised their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Citigroup decreased their price target on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Barclays decreased their price target on shares of Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. KeyCorp increased their price objective on shares of Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and an average target price of $24.11.

Gates Industrial Stock Performance

Shares of GTES stock opened at $19.33 on Friday. The company’s fifty day simple moving average is $20.84 and its 200-day simple moving average is $20.03. Gates Industrial Corp PLC has a 52 week low of $15.14 and a 52 week high of $23.85. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The company has a market cap of $4.94 billion, a PE ratio of 26.48 and a beta of 1.33.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. As a group, equities research analysts anticipate that Gates Industrial Corp PLC will post 1.36 EPS for the current 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.