Gates Industrial Corp PLC (NYSE:GTES) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Gates Industrial Corp PLC (NYSE:GTESFree Report) by 18.6% in the 3rd quarter, Holdings Channel reports. The fund owned 45,676 shares of the company’s stock after selling 10,412 shares during the period. Public Employees Retirement System of Ohio’s holdings in Gates Industrial were worth $530,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Auxier Asset Management lifted its stake in shares of Gates Industrial by 10.8% in the 3rd quarter. Auxier Asset Management now owns 174,349 shares of the company’s stock worth $2,024,000 after acquiring an additional 17,000 shares during the period. American Century Companies Inc. lifted its stake in shares of Gates Industrial by 8.9% in the 3rd quarter. American Century Companies Inc. now owns 7,602,491 shares of the company’s stock worth $88,265,000 after acquiring an additional 620,131 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Gates Industrial by 51.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 437,575 shares of the company’s stock worth $5,080,000 after acquiring an additional 149,186 shares during the period. Tudor Investment Corp Et Al lifted its stake in shares of Gates Industrial by 89.6% in the 3rd quarter. Tudor Investment Corp Et Al now owns 667,887 shares of the company’s stock worth $7,754,000 after acquiring an additional 315,677 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Gates Industrial by 7.0% in the 3rd quarter. Sei Investments Co. now owns 1,275,348 shares of the company’s stock worth $14,807,000 after acquiring an additional 83,726 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Buying and Selling at Gates Industrial

In other Gates Industrial news, Director Wilson S. Neely bought 10,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $13.24 per share, for a total transaction of $132,400.00. Following the acquisition, the director now owns 56,664 shares of the company’s stock, valued at approximately $750,231.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Wilson S. Neely purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $13.24 per share, with a total value of $132,400.00. Following the purchase, the director now directly owns 56,664 shares of the company’s stock, valued at $750,231.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ivo Jurek purchased 20,492 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were purchased at an average cost of $12.20 per share, for a total transaction of $250,002.40. Following the completion of the purchase, the chief executive officer now directly owns 626,088 shares in the company, valued at $7,638,273.60. The disclosure for this purchase can be found here. In the last three months, insiders acquired 1,030,492 shares of company stock worth $12,582,402. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on GTES. Jefferies Financial Group initiated coverage on shares of Gates Industrial in a research note on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price for the company. Evercore ISI increased their price target on shares of Gates Industrial from $12.50 to $14.00 and gave the company an “in-line” rating in a report on Tuesday, February 20th. Wolfe Research upgraded shares of Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 price target for the company in a report on Friday, March 8th. KeyCorp upgraded shares of Gates Industrial from a “sector weight” rating to an “overweight” rating and set a $18.00 price target for the company in a report on Thursday, February 22nd. Finally, TheStreet upgraded shares of Gates Industrial from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Check Out Our Latest Stock Analysis on Gates Industrial

Gates Industrial Stock Performance

NYSE:GTES opened at $17.74 on Thursday. The company has a current ratio of 3.08, a quick ratio of 2.25 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $14.64 and a two-hundred day moving average price of $12.94. Gates Industrial Corp PLC has a twelve month low of $10.68 and a twelve month high of $17.81. The company has a market capitalization of $4.69 billion, a P/E ratio of 20.87 and a beta of 1.55.

Gates Industrial (NYSE:GTESGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.10. Gates Industrial had a net margin of 6.52% and a return on equity of 10.14%. The firm had revenue of $863.30 million during the quarter, compared to the consensus estimate of $892.40 million. As a group, research analysts expect that Gates Industrial Corp PLC will post 1.32 earnings per share for the current fiscal year.

Gates Industrial Profile

(Free Report)

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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Institutional Ownership by Quarter for Gates Industrial (NYSE:GTES)

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