Exchange Traded Concepts LLC Raises Stock Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Exchange Traded Concepts LLC increased its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,888 shares of the company’s stock after acquiring an additional 8,868 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Gates Industrial were worth $2,055,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Gates Industrial by 178.3% in 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 during the period. Venturi Wealth Management LLC raised its stake in Gates Industrial by 35.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock valued at $54,000 after acquiring an additional 814 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Gates Industrial during the 3rd quarter worth approximately $67,000. GAMMA Investing LLC grew its stake in shares of Gates Industrial by 333.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after purchasing an additional 2,998 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Gates Industrial in the third quarter valued at approximately $71,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GTES shares. 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. KeyCorp lifted their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Royal Bank of Canada increased their price target on shares of Gates Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. The Goldman Sachs Group lifted their price objective on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Citigroup cut their target price on 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Gates Industrial Stock Down 0.1 %

GTES opened at $20.77 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.11 and a current ratio of 3.02. The company has a market cap of $5.29 billion, a price-to-earnings ratio of 25.02 and a beta of 1.38. Gates Industrial Corp PLC has a one year low of $12.40 and a one year high of $23.34. The business’s fifty day moving average is $21.18 and its two-hundred day moving average is $19.03.

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.