Gates Industrial Corp PLC (NYSE:GTES) Shares Sold by Signaturefd LLC

Signaturefd LLC lessened its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 57.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,268 shares of the company’s stock after selling 3,091 shares during the period. Signaturefd LLC’s holdings in Gates Industrial were worth $30,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd grew its position in Gates Industrial by 42.8% during the third quarter. Covestor Ltd now owns 4,852 shares of the company’s stock valued at $57,000 after buying an additional 1,454 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Gates Industrial in the third quarter valued at about $77,000. SG Americas Securities LLC acquired a new stake in shares of Gates Industrial in the third quarter valued at about $115,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Gates Industrial in the third quarter valued at about $117,000. Finally, Cerity Partners LLC acquired a new stake in shares of Gates Industrial in the fourth quarter valued at about $148,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Stock Performance

GTES opened at $16.18 on Friday. 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’s 50-day moving average price is $16.88 and its 200 day moving average price is $14.02. Gates Industrial Corp PLC has a twelve month low of $10.68 and a twelve month high of $17.99. The firm has a market capitalization of $4.23 billion, a PE ratio of 17.78 and a beta of 1.54.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 8th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.10. Gates Industrial had a net margin of 6.97% and a return on equity of 10.56%. The company had revenue of $863.30 million for the quarter, compared to the consensus estimate of $892.40 million. As a group, sell-side analysts expect that Gates Industrial Corp PLC will post 1.32 EPS for the current fiscal year.

Insider Activity

In other Gates Industrial news, Director Wilson S. Neely acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the completion of 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 filing with the SEC, which can be accessed through the SEC website. In other Gates Industrial news, Director Neil P. Simpkins acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was purchased at an average price of $12.20 per share, for a total transaction of $12,200,000.00. Following the completion of the acquisition, the director now owns 1,000,000 shares of the company’s stock, valued at approximately $12,200,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wilson S. Neely acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was acquired at an average price of $13.24 per share, with a total value of $132,400.00. Following the acquisition, the director now directly owns 56,664 shares of the company’s stock, valued at approximately $750,231.36. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 1,030,492 shares of company stock valued at $12,582,402. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Gates Industrial from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday. TheStreet upgraded shares of Gates Industrial from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Citigroup boosted their price target on shares of Gates Industrial from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Evercore ISI boosted their price target on shares of Gates Industrial from $12.50 to $14.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group started coverage on shares of Gates Industrial in a research report on Thursday, February 29th. They set a “buy” rating and a $21.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.78.

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.