Gates Industrial Corp PLC (NYSE:GTES) insider Ivo Jurek acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $14.50 per share, with a total value of $72,500.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.
GTES traded down $0.04 on Tuesday, hitting $14.31. 733,543 shares of the stock were exchanged, compared to its average volume of 531,424. Gates Industrial Corp PLC has a 12 month low of $14.05 and a 12 month high of $20.29. The company has a quick ratio of 1.75, a current ratio of 2.47 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $4.26 billion and a price-to-earnings ratio of 17.45.
Several research firms recently weighed in on GTES. Morgan Stanley cut their price objective on shares of Gates Industrial from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday. Zacks Investment Research raised shares of Gates Industrial from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday. Citigroup cut their price objective on shares of Gates Industrial from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Friday. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $21.00 price objective on shares of Gates Industrial in a research report on Thursday, August 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.44.
A number of institutional investors and hedge funds have recently bought and sold shares of GTES. Wells Fargo & Company MN bought a new stake in Gates Industrial during the first quarter worth about $1,503,000. Northern Trust Corp acquired a new position in Gates Industrial during the first quarter worth about $2,813,000. BlackRock Inc. acquired a new position in Gates Industrial during the first quarter worth about $43,518,000. Russell Investments Group Ltd. acquired a new position in Gates Industrial during the first quarter worth about $1,797,000. Finally, UBS Group AG acquired a new position in Gates Industrial during the first quarter worth about $788,000.
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Gates Industrial Company Profile
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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