Gates Industrial Corporation plc (GTES)

Swiss National Bank Sells 58,400 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Swiss National Bank cut its stake in Gates Industrial Corp PLC (NYSE:GTES – Free Report) by 16.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 286,200 shares of the company’s stock after selling 58,400 shares during the period. Swiss National Bank owned 0.11% of Gates Industrial worth $3,841,000 at the end of the most recent reporting period. Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Gates Industrial by 12.4% in the 3rd quarter. Vanguard Group Inc. now owns 13,810,748 shares of the company’s stock worth $160,343,000 after acquiring an additional 1,520,338 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Gates Industrial by 28.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company’s stock valued at $165,069,000 after purchasing an additional 2,697,624 shares during the last quarter. Cooke & Bieler LP boosted its position in shares of Gates Industrial by 7.9% in the 4th quarter. Cooke & Bieler LP now owns 8,154,009 shares of the company’s stock worth $109,427,000 after purchasing an additional 594,559 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Gates Industrial by 8.9% in the 3rd quarter. American Century Companies Inc. now owns 7,602,491 shares of the company’s stock worth $88,265,000 after buying an additional 620,131 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Gates Industrial by 105.5% during the 3rd quarter. AQR Capital Management LLC now owns 7,044,308 shares of the company’s stock valued at $81,784,000 after buying an additional 3,617,020 shares in the last quarter. 98.50% of the stock is owned by institutional investors. Insider Transactions at Gates Industrial In other news, Director Wilson S. Neely acquired 10,000 shares of Gates Industrial stock in a transaction that occurred on Tuesday, February 20th. The stock was bought at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the completion of the transaction, the director now owns 56,664 shares in the company, valued at $750,231.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.30% of the company’s stock. Wall Street Analysts Forecast Growth A number of research firms have recently commented on GTES. Robert W. Baird increased their target price on Gates Industrial from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group raised their price objective on shares of Gates Industrial from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Wolfe Research upgraded shares of Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday, March 8th. Citigroup increased their price target on shares of Gates Industrial from $17.00 to $20.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, KeyCorp upgraded shares of Gates Industrial from a “sector weight” rating to an “overweight” rating and set a $18.00 price objective for the company in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.88. View Our Latest Analysis on Gates Industrial Gates Industrial Trading Down 0.3 % NYSE:GTES opened at $17.35 on Monday. The company has a market cap of $4.53 billion, a PE ratio of 19.07 and a beta of 1.54. The company has a current ratio of 3.06, a quick ratio of 2.15 and a debt-to-equity ratio of 0.69. The company has a 50 day simple moving average of $17.24 and a two-hundred day simple moving average of $14.48. Gates Industrial Corp PLC has a 12 month low of $10.68 and a 12 month high of $17.99. Gates Industrial Company Profile (Free Report) 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. See Also Five stocks we like better than Gates Industrial What to Know About Investing in Penny Stocks MarketBeat Week in Review – 5/13 – 5/17 Best Aerospace Stocks Investing Take-Two Interactive Software Offers 2nd Chance for Investors Biggest Stock Losers – Today’s Biggest Percentage Decliners Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook