Vise Technologies Inc. Purchases 2,617 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Vise Technologies Inc. grew its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 14.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,196 shares of the company’s stock after acquiring an additional 2,617 shares during the period. Vise Technologies Inc.’s holdings in Gates Industrial were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GTES. FMR LLC raised its stake in shares of Gates Industrial by 48.9% during the fourth quarter. FMR LLC now owns 19,442,436 shares of the company’s stock valued at $399,931,000 after acquiring an additional 6,383,165 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Gates Industrial by 1,185.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,363,499 shares of the company’s stock worth $69,187,000 after buying an additional 3,101,738 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Gates Industrial by 540.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,609,471 shares of the company’s stock worth $74,247,000 after buying an additional 3,046,064 shares in the last quarter. Norges Bank bought a new position in Gates Industrial in the fourth quarter worth about $56,520,000. Finally, Raymond James Financial Inc. bought a new position in Gates Industrial in the fourth quarter worth about $42,080,000. 98.50% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Fredrik J. Eliasson purchased 60,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the acquisition, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This represents a 46.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Gates Industrial Price Performance

Shares of GTES opened at $20.95 on Tuesday. The stock has a market cap of $5.40 billion, a PE ratio of 28.70 and a beta of 1.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. Gates Industrial Corp PLC has a fifty-two week low of $14.70 and a fifty-two week high of $23.85. The firm’s 50-day simple moving average is $18.98 and its two-hundred day simple moving average is $20.36.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The business had revenue of $847.60 million for the quarter, compared to analysts’ expectations of $823.56 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. Analysts anticipate that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GTES has been the subject of a number of research reports. Evercore ISI increased their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Wall Street Zen raised shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 22nd. Barclays increased their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Citigroup decreased their price target on shares of Gates Industrial from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley decreased their price target on shares of Gates Industrial from $24.00 to $22.00 and set an “equal weight” rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Gates Industrial currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.89.

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.