WINTON GROUP Ltd Has $277,000 Stake in Gates Industrial Corp PLC (NYSE:GTES)

WINTON GROUP Ltd lowered its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 59.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 17,528 shares of the company’s stock after selling 25,663 shares during the quarter. WINTON GROUP Ltd’s holdings in Gates Industrial were worth $277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its stake in Gates Industrial by 341.1% during the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock worth $27,000 after purchasing an additional 1,320 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in Gates Industrial by 68,390.0% during the fourth quarter. TFO Wealth Partners LLC now owns 6,849 shares of the company’s stock worth $92,000 after purchasing an additional 6,839 shares during the last quarter. Johnson Financial Group Inc. lifted its stake in Gates Industrial by 26.4% during the fourth quarter. Johnson Financial Group Inc. now owns 7,919 shares of the company’s stock worth $106,000 after purchasing an additional 1,654 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in Gates Industrial during the second quarter worth $158,000. Finally, Envestnet Portfolio Solutions Inc. bought a new stake in Gates Industrial during the fourth quarter worth $147,000. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GTES. Robert W. Baird cut their target price on Gates Industrial from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price target on Gates Industrial from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barclays lowered their target price on Gates Industrial from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 4th. Evercore ISI raised their target price on Gates Industrial from $15.00 to $16.00 and gave the stock an “in-line” rating in a research report on Monday, August 19th. Finally, Morgan Stanley initiated coverage on Gates Industrial in a research report on Friday, September 6th. They set an “equal weight” rating and a $19.00 target price for the company. Four investment 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 has an average rating of “Moderate Buy” and a consensus price target of $19.40.

Gates Industrial Stock Down 0.1 %

Gates Industrial stock opened at $17.44 on Thursday. Gates Industrial Corp PLC has a 1-year low of $10.68 and a 1-year high of $19.07. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 19.16 and a beta of 1.41. The company has a current ratio of 3.11, a quick ratio of 2.20 and a debt-to-equity ratio of 0.68. The firm has a 50 day simple moving average of $17.16 and a 200 day simple moving average of $16.93.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $885.50 million during the quarter, compared to analyst estimates of $893.00 million. Gates Industrial had a net margin of 7.24% and a return on equity of 10.27%. On average, analysts predict that Gates Industrial Corp PLC will post 1.24 earnings per share for the current year.

Insider Buying and Selling

In other Gates Industrial news, Director Wilson S. Neely purchased 11,952 shares of the stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of $16.80 per share, with a total value of $200,793.60. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $100,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by company insiders.

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.