Smartleaf Asset Management LLC Purchases 1,140 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Smartleaf Asset Management LLC grew its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 14.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 9,005 shares of the company’s stock after buying an additional 1,140 shares during the quarter. Smartleaf Asset Management LLC’s holdings in Gates Industrial were worth $184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in shares of Gates Industrial by 178.3% during the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock valued at $51,000 after acquiring an additional 1,598 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of 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 acquiring an additional 814 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Gates Industrial during the third quarter valued at about $67,000. Quarry LP purchased a new position in shares of Gates Industrial during the third quarter valued at about $71,000. Finally, Covestor Ltd increased its position in shares of 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 institutional investors.

Gates Industrial Trading Down 1.9 %

NYSE:GTES opened at $19.96 on Friday. The company’s 50 day moving average price is $21.08 and its 200-day moving average price is $19.90. Gates Industrial Corp PLC has a 52 week low of $15.14 and a 52 week high of $23.85. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 27.35 and a beta of 1.37.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, meeting analysts’ consensus estimates of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. On average, equities research analysts forecast that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GTES shares. The Goldman Sachs Group boosted their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Barclays boosted their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Jefferies Financial Group boosted their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada boosted their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Evercore ISI boosted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

About Gates Industrial

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.