Seizert Capital Partners LLC Raises Stock Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Seizert Capital Partners LLC increased its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 22.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 226,263 shares of the company’s stock after purchasing an additional 41,611 shares during the period. Seizert Capital Partners LLC owned approximately 0.09% of Gates Industrial worth $4,654,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Assetmark Inc. lifted its stake in shares of Gates Industrial by 2,968.6% in the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock valued at $32,000 after purchasing an additional 1,514 shares during the last quarter. Versant Capital Management Inc lifted its position in Gates Industrial by 178.3% in the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after buying an additional 1,598 shares during the last quarter. Venturi Wealth Management LLC boosted 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 period. SRS Capital Advisors Inc. increased its position in 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 acquiring an additional 724 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Gates Industrial in the third quarter valued at $67,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Down 3.4 %

Gates Industrial stock opened at $19.32 on Wednesday. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. The firm has a market cap of $4.93 billion, a P/E ratio of 26.46 and a beta of 1.37. The business has a fifty day moving average of $21.12 and a two-hundred day moving average of $19.89. Gates Industrial Corp PLC has a twelve month low of $14.68 and a twelve month high of $23.85.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share (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 9.75%. On average, analysts forecast that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on GTES. Evercore ISI lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Royal Bank of Canada upped their target price 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 increased their price target on Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Barclays boosted their price objective on Gates Industrial from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group lifted their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Gates Industrial presently has an average rating of “Moderate Buy” and an average price target of $23.90.

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.