MorganRosel Wealth Management LLC Invests $1.20 Million in Gates Industrial Corporation PLC $GTES

MorganRosel Wealth Management LLC purchased a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 48,130 shares of the company’s stock, valued at approximately $1,195,000.

Other large investors also recently bought and sold shares of the company. True Wealth Design LLC raised its position in Gates Industrial by 133.2% in the 3rd quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock worth $29,000 after buying an additional 666 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in shares of Gates Industrial by 5,123.7% during the third quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after purchasing an additional 1,947 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Gates Industrial by 43.0% during the second quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock valued at $48,000 after purchasing an additional 630 shares during the last quarter. Avanza Fonder AB lifted its position in Gates Industrial by 85.3% during the third quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock valued at $61,000 after purchasing an additional 1,124 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in Gates Industrial in the third quarter worth approximately $68,000. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Gates Industrial

In other news, CFO Lawrence B. Mallard sold 22,188 shares of the stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $22.77, for a total value of $505,220.76. Following the completion of the sale, the chief financial officer directly owned 177,627 shares of the company’s stock, valued at $4,044,566.79. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by insiders.

Gates Industrial Trading Up 1.4%

Shares of NYSE:GTES opened at $22.80 on Monday. The stock has a 50 day moving average of $22.00 and a 200 day moving average of $23.85. The company has a market cap of $5.89 billion, a PE ratio of 25.05 and a beta of 1.24. Gates Industrial Corporation PLC has a 12-month low of $14.70 and a 12-month high of $26.46. The company has a current ratio of 3.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Zacks Research lowered shares of Gates Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Royal Bank Of Canada cut their price objective on Gates Industrial from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. UBS Group lowered their target price on Gates Industrial from $29.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Wells Fargo & Company assumed coverage on shares of Gates Industrial in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $23.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.09.

Gates Industrial Company Profile

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.