Marshall Wace LLP increased its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 3.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,266 shares of the company’s stock after purchasing an additional 3,150 shares during the quarter. Marshall Wace LLP’s holdings in Gates Industrial were worth $1,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in the company. Champlain Investment Partners LLC raised its stake in Gates Industrial by 2.8% during the first quarter. Champlain Investment Partners LLC now owns 5,706,660 shares of the company’s stock worth $81,834,000 after acquiring an additional 157,990 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Gates Industrial by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 4,147,503 shares of the company’s stock valued at $59,475,000 after acquiring an additional 164,651 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings in Gates Industrial by 58.8% in the first quarter. Kennedy Capital Management Inc. now owns 474,361 shares of the company’s stock valued at $6,802,000 after acquiring an additional 175,633 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in shares of Gates Industrial by 31.3% during the 1st quarter. Federated Investors Inc. PA now owns 760,000 shares of the company’s stock worth $10,898,000 after buying an additional 181,300 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of Gates Industrial during the 1st quarter worth approximately $4,732,000.
A number of research firms have issued reports on GTES. TheStreet cut Viavi Solutions from a “b-” rating to a “c+” rating in a report on Monday, June 3rd. Barclays reissued a “hold” rating and issued a $23.00 price objective on shares of Cypress Semiconductor in a report on Thursday, June 6th. Goldman Sachs Group set a GBX 6,870 ($89.77) price target on Reckitt Benckiser Group and gave the company a “neutral” rating in a research report on Tuesday, June 25th. ValuEngine cut Welbilt from a “hold” rating to a “sell” rating in a research note on Wednesday, June 12th. Finally, Zacks Investment Research raised General Moly from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Gates Industrial currently has an average rating of “Hold” and a consensus price target of $17.00.
GTES traded down $0.18 during trading on Thursday, hitting $10.47. 449,700 shares of the stock were exchanged, compared to its average volume of 435,275. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.99 and a current ratio of 2.86. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 8.18 and a beta of 1.89. Gates Industrial Corp PLC has a 1 year low of $10.30 and a 1 year high of $20.29. The stock has a 50 day moving average price of $11.10.
Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). Gates Industrial had a return on equity of 15.57% and a net margin of 25.29%. The firm had revenue of $804.90 million for the quarter, compared to analyst estimates of $844.21 million. During the same period in the prior year, the firm posted $0.25 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Gates Industrial Corp PLC will post 1.17 EPS for the current year.
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.
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