Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,815 shares of the company’s stock after purchasing an additional 1,363 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Gates Industrial were worth $819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GeoWealth Management LLC boosted its stake in Gates Industrial by 187.4% during the 4th quarter. GeoWealth Management LLC now owns 1,210 shares of the company’s stock valued at $25,000 after purchasing an additional 789 shares during the period. Assetmark Inc. raised its position in shares of Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock worth $32,000 after buying an additional 1,514 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Gates Industrial during the 4th quarter worth about $43,000. SRS Capital Advisors Inc. raised its position in shares of Gates Industrial by 38.1% during 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 in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Gates Industrial by 15.8% during the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company’s stock worth $86,000 after buying an additional 567 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Stock Up 1.0%

GTES stock opened at $21.96 on Tuesday. Gates Industrial Corp PLC has a 52-week low of $14.70 and a 52-week high of $23.85. The company’s 50 day simple moving average is $19.42 and its 200-day simple moving average is $20.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The firm has a market capitalization of $5.66 billion, a P/E ratio of 30.08 and a beta of 1.21.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The business had revenue of $847.60 million for the quarter, compared to analyst estimates of $823.56 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Friday. Morgan Stanley dropped their price target on shares of Gates Industrial from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group boosted their price target on shares of Gates Industrial from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 27th. Royal Bank of Canada boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Finally, Evercore ISI boosted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.22.

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.