Illinois Municipal Retirement Fund Buys 3,980 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Illinois Municipal Retirement Fund boosted its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 3.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 119,880 shares of the company’s stock after purchasing an additional 3,980 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Gates Industrial were worth $2,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after purchasing an additional 1,598 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after buying an additional 814 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Gates Industrial during the third quarter worth approximately $67,000. Quarry LP bought a new position in shares of Gates Industrial in the third quarter valued at approximately $71,000. Finally, Covestor Ltd boosted its holdings in shares of Gates Industrial by 26.3% in the 3rd quarter. Covestor Ltd now owns 4,812 shares of the company’s stock worth $84,000 after acquiring an additional 1,001 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Gates Industrial Stock Performance

Gates Industrial stock opened at $21.29 on Friday. Gates Industrial Corp PLC has a 1 year low of $14.45 and a 1 year high of $23.85. The company’s 50-day moving average is $21.11 and its two-hundred day moving average is $19.79. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The company has a market cap of $5.44 billion, a PE ratio of 29.16 and a beta of 1.37.

Gates Industrial (NYSE:GTES) last announced 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%. Equities analysts anticipate that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GTES shares. The Goldman Sachs Group raised their price target on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Barclays raised their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Royal Bank of Canada upped their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Evercore ISI raised their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Finally, Citigroup dropped their target price on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Gates Industrial has an average rating of “Moderate Buy” and an average price target of $23.90.

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.