New Age Alpha Advisors LLC Makes New Investment in Gates Industrial Corp PLC (NYSE:GTES)

New Age Alpha Advisors LLC acquired a new stake in Gates Industrial Corp PLC (NYSE:GTES) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 284,106 shares of the company’s stock, valued at approximately $5,844,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in Gates Industrial by 2,968.6% in the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock worth $32,000 after buying an additional 1,514 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of 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 acquiring an additional 1,598 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock worth $54,000 after acquiring an additional 724 shares during the last quarter. Quarry LP purchased a new stake in Gates Industrial in the third quarter valued at approximately $71,000. Finally, 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 purchasing an additional 1,130 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GTES has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Jefferies Financial Group upped their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays reduced their price objective on Gates Industrial from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday. KeyCorp increased their target price 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. Finally, The Goldman Sachs Group reduced their price target on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Activity at Gates Industrial

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the purchase, the director now owns 188,452 shares in the company, valued at approximately $3,686,121.12. This represents a 46.71 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by company insiders.

Gates Industrial Trading Down 4.4 %

NYSE GTES opened at $18.48 on Friday. The stock has a market cap of $4.72 billion, a P/E ratio of 25.31 and a beta of 1.33. The company’s fifty day simple moving average is $20.77 and its 200-day simple moving average is $20.12. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Gates Industrial Corp PLC has a 52 week low of $15.14 and a 52 week high of $23.85.

Gates Industrial (NYSE:GTES) last issued 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 9.75%. Equities research analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

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.