Kera Capital Partners Inc. Makes New Investment in Gates Industrial Corp PLC (NYSE:GTES)

Kera Capital Partners Inc. acquired a new stake in shares of Gates Industrial Corp PLC (NYSE:GTES) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 9,986 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GTES. Allspring Global Investments Holdings LLC lifted its position in shares of Gates Industrial by 2.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,929,377 shares of the company’s stock valued at $262,011,000 after acquiring an additional 303,353 shares in the last quarter. FMR LLC raised its stake in Gates Industrial by 4.5% during the 3rd quarter. FMR LLC now owns 13,059,271 shares of the company’s stock valued at $229,190,000 after purchasing an additional 562,643 shares during the period. State Street Corp lifted its holdings in shares of Gates Industrial by 112.9% in the third quarter. State Street Corp now owns 6,523,366 shares of the company’s stock valued at $114,485,000 after purchasing an additional 3,459,450 shares in the last quarter. Zimmer Partners LP boosted its position in shares of Gates Industrial by 141.2% in the third quarter. Zimmer Partners LP now owns 4,213,452 shares of the company’s stock worth $73,946,000 after buying an additional 2,466,543 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Gates Industrial by 45.9% during 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 in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. KeyCorp increased 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. 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 research report on Friday, December 6th. The Goldman Sachs Group raised their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Barclays upgraded shares of Gates Industrial from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $21.00 to $25.00 in a research note on Thursday, December 5th. Finally, Royal Bank of Canada lifted their target price on shares of Gates Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Gates Industrial currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Gates Industrial Stock Up 0.9 %

GTES stock opened at $20.49 on Monday. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70. The firm has a market cap of $5.22 billion, a PE ratio of 24.68 and a beta of 1.38. Gates Industrial Corp PLC has a 1 year low of $12.40 and a 1 year high of $23.34. The company has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $18.84.

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.