Ruffer LLP Buys Shares of 285,062 Gates Industrial Corp PLC (NYSE:GTES)

Ruffer LLP bought a new stake in Gates Industrial Corp PLC (NYSE:GTES) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 285,062 shares of the company’s stock, valued at approximately $5,864,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GTES. Assetmark Inc. boosted its stake in shares of Gates Industrial by 2,968.6% during the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock valued at $32,000 after purchasing an additional 1,514 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Gates Industrial by 178.3% during the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock valued at $51,000 after purchasing an additional 1,598 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after purchasing an additional 724 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Gates Industrial by 35.9% during the third 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 in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Gates Industrial during the third quarter valued at about $67,000. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GTES shares. Royal Bank of Canada lifted their price target on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group lifted their price objective on Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Citigroup cut their price objective on Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Evercore ISI lifted their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, Barclays lifted their price objective on Gates Industrial from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Gates Industrial currently has an average rating of “Moderate Buy” and an average price target of $24.33.

Gates Industrial Price Performance

Shares of GTES opened at $19.87 on Friday. Gates Industrial Corp PLC has a 52-week low of $15.14 and a 52-week high of $23.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 3.20. The business’s 50 day moving average price is $21.05 and its two-hundred day moving average price is $19.94. The firm has a market cap of $5.07 billion, a PE ratio of 27.22 and a beta of 1.33.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. On average, equities analysts anticipate that Gates Industrial Corp PLC will post 1.36 EPS 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.