GAMMA Investing LLC Acquires 1,130 Shares of Gates Industrial Corp PLC (NYSE:GTES)

GAMMA Investing LLC grew its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 29.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 5,026 shares of the company’s stock after purchasing an additional 1,130 shares during the quarter. GAMMA Investing LLC’s holdings in Gates Industrial were worth $103,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its position in Gates Industrial by 2.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,929,377 shares of the company’s stock worth $262,011,000 after acquiring an additional 303,353 shares in the last quarter. FMR LLC boosted its holdings in shares of Gates Industrial by 4.5% during the 3rd quarter. FMR LLC now owns 13,059,271 shares of the company’s stock worth $229,190,000 after buying an additional 562,643 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Gates Industrial by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 11,921,356 shares of the company’s stock worth $188,477,000 after buying an additional 1,037,741 shares during the period. State Street Corp boosted its holdings in shares of Gates Industrial by 112.9% during the 3rd 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 period. Finally, Zimmer Partners LP boosted its holdings in shares of Gates Industrial by 141.2% during the 3rd quarter. Zimmer Partners LP now owns 4,213,452 shares of the company’s stock worth $73,946,000 after buying an additional 2,466,543 shares during the period. 98.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Gates Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. KeyCorp upped their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group upped their price objective on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Citigroup upped their price objective on shares of Gates Industrial from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group increased their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $19.75 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11. Gates Industrial Corp PLC has a fifty-two week low of $12.40 and a fifty-two week high of $23.34. The firm has a fifty day moving average price of $21.24 and a two-hundred day moving average price of $18.61. The company has a market cap of $5.03 billion, a PE ratio of 23.80 and a beta of 1.38.

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.