Leeward Investments LLC MA Takes Position in Gates Industrial Corp PLC (NYSE:GTES)

Leeward Investments LLC MA acquired a new stake in Gates Industrial Corp PLC (NYSE:GTESGet Rating) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 891,166 shares of the company’s stock, valued at approximately $13,421,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Monarch Partners Asset Management LLC boosted its holdings in Gates Industrial by 18.9% during the first quarter. Monarch Partners Asset Management LLC now owns 200,220 shares of the company’s stock worth $3,015,000 after buying an additional 31,798 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Gates Industrial by 22.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 62,993 shares of the company’s stock worth $949,000 after buying an additional 11,377 shares in the last quarter. Factorial Partners LLC boosted its holdings in Gates Industrial by 4.8% during the first quarter. Factorial Partners LLC now owns 65,000 shares of the company’s stock worth $979,000 after buying an additional 3,000 shares in the last quarter. KLCM Advisors Inc. boosted its holdings in Gates Industrial by 1.2% during the first quarter. KLCM Advisors Inc. now owns 701,781 shares of the company’s stock worth $10,569,000 after buying an additional 8,229 shares in the last quarter. Finally, XML Financial LLC boosted its holdings in Gates Industrial by 23.3% during the first quarter. XML Financial LLC now owns 28,792 shares of the company’s stock worth $434,000 after buying an additional 5,450 shares in the last quarter.

Gates Industrial Trading Down 3.1 %

GTES stock opened at $12.01 on Friday. Gates Industrial Corp PLC has a 12-month low of $10.37 and a 12-month high of $18.69. The company has a current ratio of 2.80, a quick ratio of 1.89 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average of $11.61 and a two-hundred day moving average of $13.42.

Gates Industrial (NYSE:GTESGet Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Gates Industrial had a return on equity of 10.87% and a net margin of 7.48%. The company had revenue of $893.40 million during the quarter, compared to analysts’ expectations of $867.69 million. During the same quarter in the previous year, the company earned $0.33 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, research analysts predict that Gates Industrial Corp PLC will post 0.93 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. KeyCorp reduced their target price on shares of Gates Industrial from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Morgan Stanley reduced their price target on shares of Gates Industrial from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 31st. Royal Bank of Canada downgraded shares of Gates Industrial from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $17.00 to $14.00 in a research report on Wednesday, June 1st. The Goldman Sachs Group reduced their price target on shares of Gates Industrial from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Finally, Barclays reduced their price target on shares of Gates Industrial from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Friday, July 8th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Gates Industrial currently has a consensus rating of “Hold” and an average target price of $15.50.

About Gates Industrial

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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.

Further Reading

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Institutional Ownership by Quarter for Gates Industrial (NYSE:GTES)

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