Savant Capital LLC Grows Stake in Gates Industrial Corp PLC (NYSE:GTES)

Savant Capital LLC lifted its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 1.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 124,913 shares of the company’s stock after buying an additional 1,629 shares during the period. Savant Capital LLC’s holdings in Gates Industrial were worth $2,569,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Tectonic Advisors LLC boosted its stake in Gates Industrial by 3.6% in the fourth quarter. Tectonic Advisors LLC now owns 20,852 shares of the company’s stock valued at $429,000 after acquiring an additional 724 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Gates Industrial by 35.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock valued at $54,000 after purchasing an additional 814 shares during the period. Covestor Ltd grew its stake in Gates Industrial by 26.3% during the 3rd quarter. Covestor Ltd now owns 4,812 shares of the company’s stock worth $84,000 after buying an additional 1,001 shares during the last quarter. GAMMA Investing LLC increased its position in 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 during the period. Finally, Fort L.P. lifted its stake in Gates Industrial by 9.3% in the third quarter. Fort L.P. now owns 14,423 shares of the company’s stock valued at $253,000 after buying an additional 1,222 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

Gates Industrial stock opened at $22.19 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.11 and a current ratio of 3.02. Gates Industrial Corp PLC has a one year low of $12.41 and a one year high of $23.34. The company has a market cap of $5.65 billion, a P/E ratio of 30.40 and a beta of 1.37. The business has a fifty day moving average of $21.02 and a two-hundred day moving average of $19.40.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.33 EPS for the quarter, hitting analysts’ consensus estimates of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.65%. As a group, analysts predict that Gates Industrial Corp PLC will post 1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GTES has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp raised their price objective on shares of Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays raised Gates Industrial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $25.00 in a report on Thursday, December 5th. Finally, The Goldman Sachs Group lifted their price objective on shares of Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Gates Industrial presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Gates Industrial 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.