Brown Miller Wealth Management LLC Takes $207,000 Position in Gates Industrial Corp PLC (NYSE:GTES)

Brown Miller Wealth Management LLC bought a new stake in Gates Industrial Corp PLC (NYSE:GTES) during the first quarter, Holdings Channel reports. The institutional investor bought 11,246 shares of the company’s stock, valued at approximately $207,000.

A number of other large investors also recently modified their holdings of the stock. GeoWealth Management LLC increased its position in shares of Gates Industrial by 187.4% during the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company’s stock valued at $25,000 after acquiring an additional 789 shares during the last quarter. Assetmark Inc. increased its position in shares of Gates Industrial by 2,968.6% during the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock valued at $32,000 after acquiring an additional 1,514 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Gates Industrial during the fourth quarter valued at approximately $43,000. SRS Capital Advisors Inc. increased its position in shares of Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after acquiring an additional 724 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Gates Industrial by 15.8% during the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company’s stock valued at $86,000 after acquiring an additional 567 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

Gates Industrial stock opened at $22.09 on Tuesday. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85. The business has a fifty day moving average price of $20.02 and a 200-day moving average price of $20.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The firm has a market capitalization of $5.69 billion, a P/E ratio of 30.26 and a beta of 1.21.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. The firm had revenue of $847.60 million during the quarter, compared to analyst estimates of $823.56 million. During the same period last year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

GTES has been the subject of a number of research analyst reports. Barclays increased their price target on Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Citigroup decreased their price target on Gates Industrial from $27.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Evercore ISI raised their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.22.

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.