Gates Industrial Corp PLC (NYSE:GTES) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,888 shares of the company’s stock after purchasing an additional 8,868 shares during the period. Exchange Traded Concepts LLC’s holdings in Gates Industrial were worth $2,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Gates Industrial by 333.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock worth $68,000 after purchasing an additional 2,998 shares during the period. Mutual of America Capital Management LLC purchased a new position in shares of Gates Industrial during the third quarter worth $597,000. Jennison Associates LLC grew its stake in shares of Gates Industrial by 45.9% in the third quarter. Jennison Associates LLC now owns 4,032,089 shares of the company’s stock valued at $70,763,000 after buying an additional 1,268,407 shares in the last quarter. Foundry Partners LLC purchased a new stake in shares of Gates Industrial in the 3rd quarter valued at $4,247,000. Finally, Verition Fund Management LLC boosted its holdings in Gates Industrial by 322.7% during the 3rd quarter. Verition Fund Management LLC now owns 379,509 shares of the company’s stock valued at $6,660,000 after acquiring an additional 289,722 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GTES shares. The Goldman Sachs Group increased their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Jefferies Financial Group raised their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada upped their price objective on Gates Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Barclays upgraded Gates Industrial from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $21.00 to $25.00 in a report on Thursday, December 5th. Finally, KeyCorp upped their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and a consensus target price of $22.50.

Gates Industrial Stock Down 0.1 %

GTES stock opened at $20.77 on Monday. The stock has a market cap of $5.29 billion, a P/E ratio of 25.02 and a beta of 1.38. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70. Gates Industrial Corp PLC has a twelve month low of $12.40 and a twelve month high of $23.34. The company’s 50 day moving average is $21.18 and its two-hundred day moving average is $19.03.

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.