Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC boosted its stake in Gates Industrial Corp PLC (NYSE:GTES) by 25.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,105,351 shares of the company’s stock after acquiring an additional 1,047,946 shares during the quarter. Gates Industrial accounts for about 0.9% of GW&K Investment Management LLC’s portfolio, making the stock its 13th biggest holding. GW&K Investment Management LLC owned 2.00% of Gates Industrial worth $105,017,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GTES. Versant Capital Management Inc increased its stake in 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 buying an additional 1,598 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after purchasing an additional 814 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Gates Industrial in the 3rd quarter valued at $67,000. Quarry LP purchased a new position in Gates Industrial in the 3rd quarter valued at $71,000. Finally, Covestor Ltd boosted its stake in Gates Industrial by 26.3% during the 3rd quarter. Covestor Ltd now owns 4,812 shares of the company’s stock worth $84,000 after purchasing an additional 1,001 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on GTES shares. Royal Bank of Canada increased their target price on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Evercore ISI increased their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Jefferies Financial Group boosted their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 6th. KeyCorp increased their price target on Gates Industrial from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Citigroup reduced their price objective on Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.90.

Gates Industrial Trading Down 0.5 %

Shares of Gates Industrial stock opened at $21.29 on Friday. The stock has a 50 day moving average of $21.11 and a 200 day moving average of $19.79. 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 firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 29.16 and a beta of 1.37. Gates Industrial Corp PLC has a fifty-two week low of $14.45 and a fifty-two week high of $23.85.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results 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, research analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share 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.