17,935 Shares in Gates Industrial Corp PLC (NYSE:GTES) Acquired by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC purchased a new position in shares of Gates Industrial Corp PLC (NYSE:GTES) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,935 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors have also made changes to their positions in GTES. Raymond James & Associates boosted its holdings in shares of Gates Industrial by 4.6% during the first quarter. Raymond James & Associates now owns 269,329 shares of the company’s stock worth $4,056,000 after purchasing an additional 11,792 shares during the period. US Bancorp DE raised its position in Gates Industrial by 8.9% during the first quarter. US Bancorp DE now owns 36,855 shares of the company’s stock valued at $556,000 after acquiring an additional 3,003 shares in the last quarter. Citigroup Inc. raised its position in Gates Industrial by 2,781.5% during the first quarter. Citigroup Inc. now owns 231,070 shares of the company’s stock valued at $3,480,000 after acquiring an additional 223,051 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Gates Industrial by 221.3% during the first quarter. PNC Financial Services Group Inc. now owns 12,072 shares of the company’s stock valued at $182,000 after acquiring an additional 8,315 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in Gates Industrial by 2.3% during the first quarter. Natixis Advisors L.P. now owns 80,101 shares of the company’s stock valued at $1,206,000 after acquiring an additional 1,793 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gates Industrial

In related news, Director Wilson S. Neely acquired 10,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were acquired at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the completion of the purchase, the director now owns 56,664 shares in the company, valued at approximately $750,231.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Gates Industrial news, major shareholder Blackstone Inc. sold 24,276,100 shares of Gates Industrial stock in a transaction on Friday, February 16th. The shares were sold at an average price of $12.04, for a total transaction of $292,284,244.00. Following the sale, the insider now owns 107,324 shares in the company, valued at $1,292,180.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilson S. Neely purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were acquired at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the purchase, the director now directly owns 56,664 shares of the company’s stock, valued at $750,231.36. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,030,492 shares of company stock worth $12,582,402. Insiders own 2.30% of the company’s stock.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded down $0.04 during trading on Thursday, reaching $17.70. The stock had a trading volume of 2,152,400 shares, compared to its average volume of 3,021,353. The stock has a fifty day simple moving average of $14.64 and a two-hundred day simple moving average of $12.94. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of 20.87 and a beta of 1.55. The company has a quick ratio of 2.25, a current ratio of 3.08 and a debt-to-equity ratio of 0.70. Gates Industrial Corp PLC has a 52 week low of $10.68 and a 52 week high of $17.81.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.10. The business had revenue of $863.30 million for the quarter, compared to the consensus estimate of $892.40 million. Gates Industrial had a net margin of 6.52% and a return on equity of 10.14%. As a group, analysts anticipate that Gates Industrial Corp PLC will post 1.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GTES shares. Wolfe Research raised shares of Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday, March 8th. 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 objective on the stock. KeyCorp raised 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 report on Thursday, February 22nd. TheStreet raised shares of Gates Industrial from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Finally, Evercore ISI lifted their price target on shares of Gates Industrial from $12.50 to $14.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

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.