Captrust Financial Advisors Has $1.05 Million Position in Gates Industrial Corp PLC (NYSE:GTES)

Captrust Financial Advisors increased its position in Gates Industrial Corp PLC (NYSE:GTES) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,918 shares of the company’s stock after buying an additional 5,319 shares during the period. Captrust Financial Advisors’ holdings in Gates Industrial were worth $1,047,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Park Avenue Securities LLC boosted its position in Gates Industrial by 29.1% during the fourth quarter. Park Avenue Securities LLC now owns 49,939 shares of the company’s stock worth $1,027,000 after purchasing an additional 11,251 shares during the period. Assenagon Asset Management S.A. bought a new stake in Gates Industrial during the fourth quarter worth approximately $2,154,000. KBC Group NV boosted its position in Gates Industrial by 2,487.4% during the fourth quarter. KBC Group NV now owns 146,086 shares of the company’s stock worth $3,005,000 after purchasing an additional 140,440 shares during the period. Proficio Capital Partners LLC bought a new stake in Gates Industrial during the fourth quarter worth approximately $529,000. Finally, PNC Financial Services Group Inc. boosted its position in Gates Industrial by 69.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 17,185 shares of the company’s stock worth $353,000 after purchasing an additional 7,036 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Stock Down 1.3%

Shares of GTES stock opened at $21.93 on Friday. The stock has a market cap of $5.65 billion, a P/E ratio of 30.04 and a beta of 1.23. Gates Industrial Corp PLC has a one year low of $14.70 and a one year high of $23.85. The stock has a fifty day moving average price of $18.70 and a 200 day moving average price of $20.28. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26.

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

Insider Buying and Selling

In other news, Director Fredrik J. Eliasson bought 60,000 shares of Gates Industrial stock in a transaction that occurred 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 transaction, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GTES shares. Evercore ISI upped 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 upped 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. Barclays upped their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group reduced their price objective on Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Wednesday, March 19th. Finally, KeyCorp increased their price objective on Gates Industrial from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.89.

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.