137,771 Shares in Gates Industrial Corp PLC (NYSE:GTES) Acquired by Schroder Investment Management Group

Schroder Investment Management Group purchased a new position in Gates Industrial Corp PLC (NYSE:GTES) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 137,771 shares of the company’s stock, valued at approximately $2,811,000. Schroder Investment Management Group owned about 0.05% of Gates Industrial as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. United Services Automobile Association raised its holdings in shares of Gates Industrial by 4.8% in the 4th quarter. United Services Automobile Association now owns 14,054 shares of the company’s stock valued at $289,000 after purchasing an additional 646 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in Gates Industrial by 3.6% during the 4th quarter. Tectonic Advisors LLC now owns 20,852 shares of the company’s stock worth $429,000 after buying an additional 724 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in Gates Industrial by 38.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock worth $54,000 after buying an additional 724 shares during the last quarter. Amalgamated Bank boosted its position in shares of Gates Industrial by 1.5% during the 4th quarter. Amalgamated Bank now owns 70,711 shares of the company’s stock worth $1,455,000 after acquiring an additional 1,047 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Gates Industrial by 29.0% in the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock valued at $103,000 after acquiring an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

Shares of GTES opened at $15.78 on Friday. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 21.61 and a beta of 1.24. Gates Industrial Corp PLC has a fifty-two week low of $15.11 and a fifty-two week high of $23.85. The firm has a 50-day simple moving average of $20.48 and a 200-day simple moving average of $20.18. 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 (NYSE:GTES) last announced its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, equities research analysts anticipate that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

Insider Activity at Gates Industrial

In other Gates Industrial news, Director Fredrik J. Eliasson acquired 60,000 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the acquisition, the director now owns 188,452 shares of the company’s stock, valued at $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GTES has been the subject of a number of research analyst reports. KeyCorp upped their price target on Gates Industrial from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, February 7th. The Goldman Sachs Group lowered their target price on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Barclays cut their price target on shares of Gates Industrial from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Evercore ISI upped their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada lifted their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.