Gates Industrial Corp PLC (NYSE:GTES) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 67.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 39,376 shares of the company’s stock after acquiring an additional 15,854 shares during the period. Summit Trail Advisors LLC’s holdings in Gates Industrial were worth $810,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GTES. Versant Capital Management Inc boosted its stake in shares of Gates Industrial by 178.3% in the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after acquiring an additional 1,598 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Gates Industrial by 35.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after purchasing an additional 814 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Gates Industrial during the third quarter worth $67,000. GAMMA Investing LLC raised its position in shares of Gates Industrial by 333.9% in the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after buying an additional 2,998 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Gates Industrial in the third quarter worth about $71,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Stock Performance

Shares of Gates Industrial stock opened at $22.36 on Wednesday. The firm has a market cap of $5.70 billion, a PE ratio of 30.63 and a beta of 1.37. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. Gates Industrial Corp PLC has a 52 week low of $12.41 and a 52 week high of $23.34. The business’s fifty day simple moving average is $21.02 and its 200-day simple moving average is $19.38.

Gates Industrial (NYSE:GTES) last posted its earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.65%. Equities analysts forecast that Gates Industrial Corp PLC will post 1.4 earnings per share for the current year.

Wall Street Analyst Weigh In

GTES has been the subject of several research reports. Barclays raised 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. The Goldman Sachs Group upped their price target on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. KeyCorp lifted their price objective on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada upped their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group lifted their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

About Gates Industrial

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.