Leeward Investments LLC MA Increases Position in Gates Industrial Corp PLC (NYSE:GTES)

Leeward Investments LLC MA boosted its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 67.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,216,815 shares of the company’s stock after purchasing an additional 488,967 shares during the period. Leeward Investments LLC MA owned approximately 0.46% of Gates Industrial worth $16,330,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Gates Industrial by 12.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,810,748 shares of the company’s stock valued at $160,343,000 after acquiring an additional 1,520,338 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Gates Industrial by 28.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company’s stock worth $165,069,000 after acquiring an additional 2,697,624 shares in the last quarter. Cooke & Bieler LP grew its holdings in Gates Industrial by 7.9% during the 4th quarter. Cooke & Bieler LP now owns 8,154,009 shares of the company’s stock worth $109,427,000 after acquiring an additional 594,559 shares in the last quarter. American Century Companies Inc. grew its holdings in Gates Industrial by 8.9% during the 3rd quarter. American Century Companies Inc. now owns 7,602,491 shares of the company’s stock worth $88,265,000 after acquiring an additional 620,131 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Gates Industrial by 105.5% in the 3rd quarter. AQR Capital Management LLC now owns 7,044,308 shares of the company’s stock worth $81,784,000 after buying an additional 3,617,020 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GTES. TheStreet upgraded shares of Gates Industrial from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. KeyCorp upgraded shares of Gates Industrial from a “sector weight” rating to an “overweight” rating and set a $18.00 price target on the stock in a research report on Thursday, February 22nd. The Goldman Sachs Group raised their price target on shares of Gates Industrial from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Citigroup raised their price target on shares of Gates Industrial from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Evercore ISI lifted their price objective 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 equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Insiders Place Their Bets

In other Gates Industrial news, Director Wilson S. Neely purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were purchased at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the completion of the transaction, 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 can be accessed through this hyperlink. In other news, Director Wilson S. Neely acquired 10,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were purchased at an average cost of $13.24 per share, for a total transaction of $132,400.00. Following the transaction, the director now owns 56,664 shares in the company, valued at approximately $750,231.36. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Neil P. Simpkins acquired 1,000,000 shares of the stock in a transaction on Friday, February 16th. The shares were purchased at an average price of $12.20 per share, for a total transaction of $12,200,000.00. Following the completion of the transaction, the director now owns 1,000,000 shares in the company, valued at approximately $12,200,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,030,492 shares of company stock worth $12,582,402. 2.30% of the stock is owned by insiders.

Gates Industrial Stock Up 1.5 %

GTES stock opened at $17.72 on Friday. Gates Industrial Corp PLC has a 52 week low of $10.68 and a 52 week high of $17.86. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 20.85 and a beta of 1.57. The firm’s 50-day moving average is $16.59 and its two-hundred day moving average is $13.83. The company has a current ratio of 3.08, a quick ratio of 2.25 and a debt-to-equity ratio of 0.70.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.10. The company 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%. On average, analysts forecast that Gates Industrial Corp PLC will post 1.32 earnings per share for the current fiscal year.

Gates Industrial 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.