Centaurus Financial Inc. Invests $140,000 in Gates Industrial Corp PLC (NYSE:GTES)

Centaurus Financial Inc. bought a new position in shares of Gates Industrial Corp PLC (NYSE:GTES) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,000 shares of the company’s stock, valued at approximately $140,000.

Other institutional investors have also modified their holdings of the company. Headlands Technologies LLC increased its holdings in Gates Industrial by 341.1% during the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock valued at $27,000 after buying an additional 1,320 shares during the period. Venturi Wealth Management LLC increased its holdings in Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock valued at $54,000 after buying an additional 814 shares during the period. Capital Performance Advisors LLP purchased a new position in Gates Industrial during the third quarter valued at approximately $67,000. GAMMA Investing LLC increased its holdings in Gates Industrial by 333.9% during the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after buying an additional 2,998 shares during the period. Finally, Covestor Ltd increased its holdings in Gates Industrial by 26.3% during the third quarter. Covestor Ltd now owns 4,812 shares of the company’s stock valued at $84,000 after buying an additional 1,001 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Trading Down 0.4 %

NYSE:GTES opened at $22.12 on Friday. Gates Industrial Corp PLC has a 12 month low of $11.22 and a 12 month high of $22.43. The firm has a fifty day simple moving average of $19.16 and a 200-day simple moving average of $17.66. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $5.63 billion, a P/E ratio of 26.65 and a beta of 1.38.

Analyst Ratings Changes

Several equities analysts recently issued reports on GTES shares. Barclays lifted their price objective on shares of Gates Industrial from $16.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Royal Bank of Canada upgraded shares of Gates Industrial from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $20.00 to $22.00 in a research note on Monday, August 19th. The Goldman Sachs Group raised their target price on shares of Gates Industrial from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird lowered their target price on shares of Gates Industrial from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Morgan Stanley began coverage on shares of Gates Industrial in a research note on Friday, September 6th. They issued an “equal weight” rating and a $19.00 target price for the company. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.40.

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.