Teacher Retirement System of Texas Has $3.07 Million Position in Gates Industrial Corp PLC (NYSE:GTES)

Teacher Retirement System of Texas increased its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 96.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 149,465 shares of the company’s stock after purchasing an additional 73,406 shares during the quarter. Teacher Retirement System of Texas’ holdings in Gates Industrial were worth $3,074,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. increased its position in shares of Gates Industrial by 2,968.6% during the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock worth $32,000 after acquiring an additional 1,514 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Gates Industrial by 178.3% in the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock valued at $51,000 after purchasing an additional 1,598 shares during the period. SRS Capital Advisors Inc. lifted its holdings in shares of Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after purchasing an additional 724 shares in the last quarter. Quarry LP acquired a new position in shares of Gates Industrial during the third quarter worth about $71,000. Finally, GAMMA Investing LLC grew its holdings in shares of Gates Industrial by 29.0% during the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after buying an additional 1,130 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Gates Industrial

In other news, Director Fredrik J. Eliasson bought 60,000 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the acquisition, the director now owns 188,452 shares of the company’s stock, valued at $3,686,121.12. This represents a 46.71 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.30% of the company’s stock.

Gates Industrial Stock Up 0.1 %

GTES stock opened at $20.07 on Wednesday. The business’s 50 day simple moving average is $20.83 and its 200 day simple moving average is $20.12. Gates Industrial Corp PLC has a 1-year low of $15.14 and a 1-year high of $23.85. The firm has a market capitalization of $5.13 billion, a PE ratio of 27.49 and a beta of 1.33. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. As a group, research analysts anticipate that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GTES shares. Jefferies Financial Group upped their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup lowered their price target on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group reduced their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Wednesday, March 19th. Barclays lowered their target price on Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Finally, Evercore ISI raised their price target on Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.11.

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.