New Age Alpha Advisors LLC Purchases Shares of 284,106 Gates Industrial Corp PLC (NYSE:GTES)

New Age Alpha Advisors LLC acquired a new position in Gates Industrial Corp PLC (NYSE:GTES) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 284,106 shares of the company’s stock, valued at approximately $5,844,000. New Age Alpha Advisors LLC owned about 0.11% of Gates Industrial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the business. United Services Automobile Association grew its holdings in Gates Industrial by 4.8% in the 4th quarter. United Services Automobile Association now owns 14,054 shares of the company’s stock worth $289,000 after acquiring an additional 646 shares during the last quarter. Tectonic Advisors LLC grew its stake in Gates Industrial by 3.6% in the fourth quarter. Tectonic Advisors LLC now owns 20,852 shares of the company’s stock worth $429,000 after purchasing an additional 724 shares during the period. SRS Capital Advisors Inc. grew its position in shares of Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock worth $54,000 after buying an additional 724 shares during the period. Amalgamated Bank grew its holdings in Gates Industrial by 1.5% in the fourth quarter. Amalgamated Bank now owns 70,711 shares of the company’s stock worth $1,455,000 after purchasing an additional 1,047 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Gates Industrial by 29.0% in the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after buying an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

GTES has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Barclays lowered their price objective on Gates Industrial from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup reduced their price target on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Finally, The Goldman Sachs Group dropped their price target on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Gates Industrial Trading Down 4.4 %

GTES opened at $18.48 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. Gates Industrial Corp PLC has a one year low of $15.14 and a one year high of $23.85. The company has a market cap of $4.72 billion, a P/E ratio of 25.31 and a beta of 1.33. The business’s 50-day simple moving average is $20.77 and its 200-day simple moving average is $20.12.

Gates Industrial (NYSE:GTES) last released its 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%. As a group, equities research analysts expect that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Fredrik J. Eliasson acquired 60,000 shares of Gates Industrial stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the transaction, the director now directly owns 188,452 shares of the company’s stock, valued at $3,686,121.12. The trade was a 46.71 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by insiders.

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.