29,171 Shares in Gates Industrial Corp PLC (NYSE:GTES) Acquired by Baird Financial Group Inc.

Baird Financial Group Inc. purchased a new position in shares of Gates Industrial Corp PLC (NYSE:GTES) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 29,171 shares of the company’s stock, valued at approximately $600,000.

Several other large investors have also made changes to their positions in the company. GeoWealth Management LLC boosted its position in Gates Industrial by 187.4% in the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company’s stock valued at $25,000 after buying an additional 789 shares in the last quarter. Assetmark Inc. boosted its position in Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock valued at $32,000 after buying an additional 1,514 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Gates Industrial in the fourth quarter valued at approximately $43,000. SRS Capital Advisors Inc. boosted its position in Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after buying an additional 724 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company’s stock valued at $86,000 after buying an additional 567 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the purchase, the director now owns 188,452 shares in the company, valued at approximately $3,686,121.12. This trade represents a 46.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by insiders.

Gates Industrial Price Performance

Shares of NYSE GTES opened at $21.93 on Friday. Gates Industrial Corp PLC has a twelve month low of $14.70 and a twelve month high of $23.85. The firm has a fifty day simple moving average of $18.70 and a 200 day simple moving average of $20.28. The company has a market capitalization of $5.65 billion, a PE ratio of 30.04 and a beta of 1.23. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72.

Gates Industrial (NYSE:GTES) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $823.56 million. During the same quarter last year, the firm earned $0.31 earnings per share. Gates Industrial’s quarterly revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Gates Industrial from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group cut their price target on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Royal Bank of Canada lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Thursday, May 1st. Citigroup cut their price target on shares of Gates Industrial from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.