HBK Sorce Advisory LLC Acquires Shares of 21,742 Gates Industrial Corp PLC (NYSE:GTES)

HBK Sorce Advisory LLC acquired a new stake in shares of Gates Industrial Corp PLC (NYSE:GTES – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,742 shares of the company’s stock, valued at approximately $40,000.

Several other large investors have also recently made changes to their positions in GTES. Signaturefd LLC grew its holdings in Gates Industrial by 56.3% during the 4th quarter. Signaturefd LLC now owns 5,865 shares of the company’s stock valued at $67,000 after buying an additional 2,112 shares in the last quarter. Ethic Inc. purchased a new stake in Gates Industrial during the third quarter valued at $106,000. Principal Financial Group Inc. bought a new position in Gates Industrial during the second quarter valued at $121,000. Occudo Quantitative Strategies LP purchased a new position in shares of Gates Industrial in the 2nd quarter worth $125,000. Finally, Riverwater Partners LLC purchased a new position in shares of Gates Industrial in the 4th quarter worth $133,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GTES. VNET Group reaffirmed a “maintains” rating on shares of Gates Industrial in a report on Tuesday, May 9th. Morgan Stanley lifted their target price on Gates Industrial from $11.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, February 10th. Evercore ISI decreased their price target on Gates Industrial from $15.00 to $14.00 in a report on Tuesday, May 9th. UBS Group lifted their price objective on shares of Gates Industrial from $16.00 to $18.00 in a research note on Monday, May 8th. Finally, Robert W. Baird boosted their price objective on shares of Gates Industrial from $18.00 to $19.00 in a research report on Friday, May 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Gates Industrial currently has a consensus rating of “Hold” and an average target price of $15.45.

Gates Industrial Price Performance

Shares of GTES stock opened at $11.96 on Friday. The company has a market capitalization of $3.38 billion, a P/E ratio of 15.74 and a beta of 1.53. The company’s 50-day simple moving average is $13.30 and its two-hundred day simple moving average is $12.69. Gates Industrial Corp PLC has a one year low of $9.40 and a one year high of $14.93. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.19 and a quick ratio of 2.30.

About Gates Industrial

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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.