American Century Companies Inc. Has $112.25 Million Holdings in Gates Industrial Corp PLC (NYSE:GTES)

American Century Companies Inc. trimmed its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 5,456,964 shares of the company’s stock after selling 383,943 shares during the quarter. American Century Companies Inc.’s holdings in Gates Industrial were worth $112,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GTES. Assetmark Inc. raised its stake in Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock valued at $32,000 after purchasing an additional 1,514 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after purchasing an additional 1,598 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after buying an additional 724 shares during the last quarter. Quarry LP bought a new stake in shares of Gates Industrial in the third quarter valued at about $71,000. Finally, GAMMA Investing LLC lifted its stake in shares of Gates Industrial by 29.0% in the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock valued at $103,000 after buying an additional 1,130 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GTES has been the topic of several research reports. Barclays lowered their price target on Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Jefferies Financial Group boosted their price objective on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 6th. 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 report on Wednesday, February 19th. 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. Finally, The Goldman Sachs Group dropped their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus target price of $24.11.

Gates Industrial Stock Performance

Shares of NYSE:GTES opened at $19.33 on Monday. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 26.48 and a beta of 1.33. The business’s fifty day moving average price is $20.84 and its two-hundred day moving average price is $20.07. Gates Industrial Corp PLC has a fifty-two week low of $15.14 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26.

Gates Industrial (NYSE:GTES) last announced 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 net margin of 5.72% and a return on equity of 9.75%. As a group, analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson bought 60,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were bought at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the acquisition, the director now owns 188,452 shares of the company’s stock, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.30% of the company’s stock.

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.