Jane Street Group LLC Has $5.03 Million Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Jane Street Group LLC decreased its position in Gates Industrial Corp PLC (NYSE:GTES) by 6.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,609 shares of the company’s stock after selling 18,378 shares during the quarter. Jane Street Group LLC owned 0.11% of Gates Industrial worth $5,030,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wexford Capital LP bought a new position in Gates Industrial in the third quarter valued at approximately $456,000. Weiss Asset Management LP bought a new position in shares of Gates Industrial in the third quarter valued at $236,000. State Street Corp increased its holdings in Gates Industrial by 112.9% during the third quarter. State Street Corp now owns 6,523,366 shares of the company’s stock worth $114,485,000 after buying an additional 3,459,450 shares during the last quarter. Stifel Financial Corp raised its position in Gates Industrial by 40.3% during the third quarter. Stifel Financial Corp now owns 139,338 shares of the company’s stock worth $2,445,000 after acquiring an additional 40,027 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Gates Industrial by 21.3% in the third quarter. Quantinno Capital Management LP now owns 202,264 shares of the company’s stock valued at $3,550,000 after acquiring an additional 35,547 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Stock Down 0.6 %

Shares of NYSE:GTES opened at $21.87 on Tuesday. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 26.34 and a beta of 1.38. The business’s 50 day moving average is $20.38 and its 200 day moving average is $18.11. Gates Industrial Corp PLC has a 12-month low of $12.30 and a 12-month high of $23.34. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GTES shares. Royal Bank of Canada boosted their target price on Gates Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. KeyCorp raised their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Citigroup upped their price target on shares of Gates Industrial from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Jefferies Financial Group raised their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group upped their target price on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.80.

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.