Campbell & CO Investment Adviser LLC Sells 28,078 Shares of Gates Industrial Corporation PLC $GTES

Campbell & CO Investment Adviser LLC decreased its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 66.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,233 shares of the company’s stock after selling 28,078 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Gates Industrial were worth $353,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GTES. Empowered Funds LLC purchased a new stake in Gates Industrial during the first quarter valued at about $381,000. Assenagon Asset Management S.A. lifted its stake in shares of Gates Industrial by 0.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 121,868 shares of the company’s stock valued at $2,807,000 after acquiring an additional 908 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Gates Industrial by 1.9% in the 2nd quarter. Park Avenue Securities LLC now owns 50,414 shares of the company’s stock valued at $1,161,000 after acquiring an additional 940 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Gates Industrial by 14.7% during the 2nd quarter. GAMMA Investing LLC now owns 10,433 shares of the company’s stock valued at $240,000 after acquiring an additional 1,334 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Gates Industrial by 16.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 84,635 shares of the company’s stock worth $1,949,000 after acquiring an additional 11,775 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GTES shares. JPMorgan Chase & Co. lowered their price objective on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 10th. Citigroup reissued a “buy” rating on shares of Gates Industrial in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, December 29th. Finally, Royal Bank Of Canada lowered their price objective on shares of Gates Industrial from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.09.

Insider Buying and Selling at Gates Industrial

In other Gates Industrial news, CFO Lawrence B. Mallard sold 22,188 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $22.77, for a total value of $505,220.76. Following the completion of the transaction, the chief financial officer directly owned 177,627 shares in the company, valued at $4,044,566.79. This represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is currently owned by insiders.

Gates Industrial Stock Performance

Gates Industrial stock opened at $23.07 on Friday. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $26.46. The company has a quick ratio of 2.50, a current ratio of 3.52 and a debt-to-equity ratio of 0.61. The stock’s 50 day moving average is $22.17 and its 200 day moving average is $23.80. The company has a market capitalization of $5.96 billion, a P/E ratio of 25.36 and a beta of 1.24.

Gates Industrial Company Profile

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.