New York State Common Retirement Fund lifted its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES - Free Report) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,036,880 shares of the company's stock after acquiring an additional 88,055 shares during the quarter. New York State Common Retirement Fund owned about 0.41% of Gates Industrial worth $21,329,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 1,598 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Gates Industrial by 35.9% in the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company's stock valued at $54,000 after buying an additional 814 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Gates Industrial in the third quarter valued at $67,000. Quarry LP acquired a new position in shares of Gates Industrial during the third quarter valued at $71,000. Finally, Covestor Ltd grew its position in shares of Gates Industrial by 26.3% during the third quarter. Covestor Ltd now owns 4,812 shares of the company's stock worth $84,000 after acquiring an additional 1,001 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.
GTES has been the topic of several recent research reports. The Goldman Sachs Group lifted their price objective on shares of Gates Industrial from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Citigroup cut their price target on Gates Industrial from $27.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Barclays increased their price objective on Gates Industrial from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Evercore ISI raised their target price on Gates Industrial from $22.00 to $23.00 and gave the company an "in-line" rating in a research report on Wednesday. Finally, KeyCorp boosted their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.90.
Read Our Latest Research Report on GTES
GTES opened at $22.29 on Friday. 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 market capitalization of $5.69 billion, a PE ratio of 30.53 and a beta of 1.37. The stock's fifty day moving average is $21.09 and its 200-day moving average is $19.64. Gates Industrial Corp PLC has a one year low of $14.14 and a one year high of $23.85.
Gates Industrial (NYSE:GTES - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. On average, equities analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.
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.
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