PharVision Advisers LLC Acquires Shares of 9,884 Gates Industrial Corp PLC (NYSE:GTES)

PharVision Advisers LLC bought a new stake in Gates Industrial Corp PLC (NYSE:GTES) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,884 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors have also modified their holdings of GTES. GeoWealth Management LLC grew its holdings in Gates Industrial by 187.4% during the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company’s stock worth $25,000 after acquiring an additional 789 shares during the period. Assetmark Inc. raised its stake in shares of Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock worth $32,000 after buying an additional 1,514 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Gates Industrial in the 4th quarter worth about $43,000. SRS Capital Advisors Inc. boosted its position 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 worth $54,000 after buying an additional 724 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of Gates Industrial by 15.8% in the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company’s stock worth $86,000 after buying an additional 567 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GTES has been the topic of several recent research reports. Royal Bank of Canada boosted their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Morgan Stanley reduced their target price on shares of Gates Industrial from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. KeyCorp upped their target price on shares of Gates Industrial from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Citigroup reduced their target price on shares of Gates Industrial from $27.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their target price on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average price target of $22.89.

Insider Buying and Selling

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

Gates Industrial Trading Down 1.4%

NYSE GTES opened at $21.01 on Friday. Gates Industrial Corp PLC has a 12 month low of $14.70 and a 12 month high of $23.85. The company has a 50-day moving average of $18.92 and a 200-day moving average of $20.37. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The company has a market cap of $5.42 billion, a P/E ratio of 28.78 and a beta of 1.23.

Gates Industrial (NYSE:GTES) last posted its earnings results on Wednesday, April 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $847.60 million during the quarter, compared to the consensus estimate of $823.56 million. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 EPS. As a group, equities analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

Gates Industrial Company Profile

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.