Bailard Inc. Acquires Shares of 30,824 Gates Industrial Corp PLC (NYSE:GTES)

Bailard Inc. bought a new position in Gates Industrial Corp PLC (NYSE:GTES) during the fourth quarter, Holdings Channel reports. The firm bought 30,824 shares of the company’s stock, valued at approximately $414,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its position in 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 purchasing an additional 3,617,020 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Gates Industrial by 28.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company’s stock valued at $165,069,000 after purchasing an additional 2,697,624 shares during the period. Vanguard Group Inc. boosted its holdings in Gates Industrial by 12.4% during the third quarter. Vanguard Group Inc. now owns 13,810,748 shares of the company’s stock worth $160,343,000 after buying an additional 1,520,338 shares in the last quarter. LSV Asset Management acquired a new stake in Gates Industrial during the third quarter valued at $16,011,000. Finally, FMR LLC increased its holdings in Gates Industrial by 43.2% in the third quarter. FMR LLC now owns 3,191,825 shares of the company’s stock valued at $37,057,000 after buying an additional 962,452 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Wilson S. Neely acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $13.24 per share, with a total value of $132,400.00. Following the purchase, the director now owns 56,664 shares in the company, valued at $750,231.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ivo Jurek bought 20,492 shares of the business’s stock in a transaction on Friday, February 16th. The stock was acquired at an average cost of $12.20 per share, with a total value of $250,002.40. Following the purchase, the chief executive officer now directly owns 626,088 shares of the company’s stock, valued at $7,638,273.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Wilson S. Neely purchased 10,000 shares of Gates Industrial stock in a transaction dated Tuesday, February 20th. The shares were bought at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the acquisition, the director now owns 56,664 shares in the company, valued at $750,231.36. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,030,492 shares of company stock valued at $12,582,402. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GTES shares. Jefferies Financial Group assumed coverage on shares of Gates Industrial in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 target price on the stock. KeyCorp upgraded 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. TheStreet upgraded Gates Industrial from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Wolfe Research upgraded Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research report on Friday, March 8th. Finally, Citigroup lifted their price target on shares of Gates Industrial from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Gates Industrial Stock Performance

NYSE GTES opened at $17.72 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.08 and a quick ratio of 2.25. The stock’s 50 day simple moving average is $16.59 and its 200-day simple moving average is $13.83. The company has a market cap of $4.68 billion, a PE ratio of 20.85 and a beta of 1.57. Gates Industrial Corp PLC has a 1-year low of $10.68 and a 1-year high of $17.86.

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

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.