WINTON GROUP Ltd Cuts Stake in Gates Industrial Corp PLC (NYSE:GTES)

WINTON GROUP Ltd decreased its position in Gates Industrial Corp PLC (NYSE:GTES) by 90.5% during the 4th quarter, Holdings Channel reports. The fund owned 37,788 shares of the company’s stock after selling 359,759 shares during the quarter. WINTON GROUP Ltd’s holdings in Gates Industrial were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GTES. United Services Automobile Association boosted its holdings in Gates Industrial by 4.8% in the 4th quarter. United Services Automobile Association now owns 14,054 shares of the company’s stock valued at $289,000 after purchasing an additional 646 shares in the last quarter. Tectonic Advisors LLC raised its stake in shares of Gates Industrial by 3.6% during the 4th quarter. Tectonic Advisors LLC now owns 20,852 shares of the company’s stock worth $429,000 after buying an additional 724 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after buying an additional 724 shares during the period. Amalgamated Bank boosted its stake in shares of Gates Industrial by 1.5% in the fourth quarter. Amalgamated Bank now owns 70,711 shares of the company’s stock valued at $1,455,000 after buying an additional 1,047 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Gates Industrial by 29.0% in the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after acquiring an additional 1,130 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Fredrik J. Eliasson bought 60,000 shares of the stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $19.56 per share, with a total value of $1,173,600.00. Following the purchase, the director now owns 188,452 shares of the company’s stock, valued at approximately $3,686,121.12. The trade was a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Gates Industrial Price Performance

Shares of NYSE:GTES opened at $18.48 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The business’s fifty day moving average price is $20.77 and its two-hundred day moving average price is $20.15. The stock has a market cap of $4.72 billion, a PE ratio of 25.31 and a beta of 1.33. Gates Industrial Corp PLC has a one year low of $15.14 and a one year high of $23.85.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Citigroup dropped their target price on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays reduced their price target on shares of Gates Industrial from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore ISI upped their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, KeyCorp lifted their price objective on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Gates Industrial has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.