Orion Portfolio Solutions LLC Reduces Stake in Gates Industrial Corp PLC (NYSE:GTES)

Orion Portfolio Solutions LLC trimmed its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,770 shares of the company’s stock after selling 11,991 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Gates Industrial were worth $1,991,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Assetmark Inc. boosted its stake in shares of Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock worth $32,000 after acquiring an additional 1,514 shares in the last quarter. Versant Capital Management Inc grew its holdings in Gates Industrial by 178.3% in the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock valued at $51,000 after buying an additional 1,598 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after purchasing an additional 724 shares during the period. Quarry LP acquired a new stake in shares of Gates Industrial during the 3rd quarter worth approximately $71,000. Finally, GAMMA Investing LLC increased its stake in Gates Industrial by 29.0% during the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after acquiring an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Evercore ISI boosted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Barclays cut their price objective on Gates Industrial from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group lowered their target price on Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. KeyCorp lifted their target price on Gates Industrial from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. 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 research report on Friday, December 6th. Three 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Insider Activity at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson purchased 60,000 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were purchased at an average cost 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. This represents a 46.71 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Gates Industrial Stock Up 3.7 %

GTES stock opened at $19.25 on Thursday. Gates Industrial Corp PLC has a one year low of $15.14 and a one year high of $23.85. The stock has a market capitalization of $4.92 billion, a PE ratio of 26.37 and a beta of 1.24. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The company has a fifty day moving average of $20.66 and a 200-day moving average of $20.19.

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 analysts’ consensus estimates of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. As a group, analysts expect that Gates Industrial Corp PLC will post 1.36 EPS 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.