Crossmark Global Holdings Inc. Decreases Position in Gates Industrial Corp PLC (NYSE:GTES)

Crossmark Global Holdings Inc. decreased its position in shares of Gates Industrial Corp PLC (NYSE:GTESFree Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,720 shares of the company’s stock after selling 2,000 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Gates Industrial were worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Gates Industrial by 12.4% during the 3rd quarter. Vanguard Group Inc. now owns 13,810,748 shares of the company’s stock valued at $160,343,000 after purchasing an additional 1,520,338 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Gates Industrial by 28.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company’s stock worth $165,069,000 after buying an additional 2,697,624 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Gates Industrial by 14.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,708,198 shares of the company’s stock worth $130,285,000 after buying an additional 1,239,261 shares during the last quarter. Cooke & Bieler LP lifted its stake in Gates Industrial by 7.9% during the 4th quarter. Cooke & Bieler LP now owns 8,154,009 shares of the company’s stock valued at $109,427,000 after acquiring an additional 594,559 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Gates Industrial by 8.9% during the 3rd quarter. American Century Companies Inc. now owns 7,602,491 shares of the company’s stock valued at $88,265,000 after acquiring an additional 620,131 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GTES. Evercore ISI boosted their price objective 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. Jefferies Financial Group started coverage on Gates Industrial in a report on Thursday, February 29th. They issued a “buy” rating and a $21.00 target price on the stock. Citigroup boosted their price target on Gates Industrial from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 8th. KeyCorp upgraded shares of Gates Industrial from a “sector weight” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group boosted their target price on shares of Gates Industrial from $16.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.13.

View Our Latest Research Report on Gates Industrial

Insider Activity

In related news, major shareholder Blackstone Inc. sold 20,125,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $16.33, for a total transaction of $328,641,250.00. Following the completion of the sale, the insider now owns 77,326 shares in the company, valued at $1,262,733.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Gates Industrial Trading Up 0.9 %

Gates Industrial stock opened at $16.63 on Tuesday. Gates Industrial Corp PLC has a 12-month low of $10.68 and a 12-month high of $17.99. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 18.27 and a beta of 1.43. The firm has a 50 day moving average of $17.17 and a 200 day moving average of $15.10. The company has a current ratio of 3.06, a quick ratio of 2.15 and a debt-to-equity ratio of 0.69.

Gates Industrial (NYSE:GTESGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Gates Industrial had a net margin of 6.97% and a return on equity of 10.52%. The firm had revenue of $862.60 million during the quarter, compared to analysts’ expectations of $866.00 million. As a group, research analysts predict that Gates Industrial Corp PLC will post 1.32 earnings per share for the current year.

About Gates Industrial

(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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