Inceptionr LLC Lowers Stock Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Inceptionr LLC trimmed its stake in Gates Industrial Corp PLC (NYSE:GTES) by 13.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,580 shares of the company’s stock after selling 2,299 shares during the period. Inceptionr LLC’s holdings in Gates Industrial were worth $196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of Gates Industrial by 796.0% in the 4th quarter. SG Americas Securities LLC now owns 88,480 shares of the company’s stock worth $1,187,000 after purchasing an additional 78,605 shares during the period. LSV Asset Management lifted its position in shares of Gates Industrial by 103.7% in the 4th quarter. LSV Asset Management now owns 2,809,223 shares of the company’s stock worth $37,700,000 after purchasing an additional 1,430,149 shares during the period. Auxier Asset Management lifted its position in shares of Gates Industrial by 10.8% in the 3rd quarter. Auxier Asset Management now owns 174,349 shares of the company’s stock worth $2,024,000 after purchasing an additional 17,000 shares during the period. Pacer Advisors Inc. lifted its position in shares of Gates Industrial by 20.9% in the 4th quarter. Pacer Advisors Inc. now owns 3,613,276 shares of the company’s stock worth $48,490,000 after purchasing an additional 624,517 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Gates Industrial by 8.9% in the 3rd quarter. American Century Companies Inc. now owns 7,602,491 shares of the company’s stock worth $88,265,000 after purchasing an additional 620,131 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Wilson S. Neely acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the completion of the purchase, the director now directly owns 56,664 shares of the company’s stock, valued at $750,231.36. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Analyst Ratings Changes

GTES has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of Gates Industrial from $12.50 to $14.00 and gave the stock an “in-line” rating in a research note on Tuesday, February 20th. KeyCorp upgraded shares of Gates Industrial from a “sector weight” rating to an “overweight” rating and set a $18.00 price objective for the company in a research note on Thursday, February 22nd. Wolfe Research upgraded shares of Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, March 8th. Jefferies Financial Group initiated coverage on shares of Gates Industrial in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 price objective for the company. Finally, The Goldman Sachs Group upped their price target on shares of Gates Industrial from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.88.

Gates Industrial Stock Down 0.3 %

NYSE:GTES opened at $17.35 on Friday. The firm has a market capitalization of $4.53 billion, a P/E ratio of 19.06 and a beta of 1.54. Gates Industrial Corp PLC has a 1-year low of $10.68 and a 1-year high of $17.99. The company’s fifty day moving average price is $17.24 and its 200-day moving average price is $14.43. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.06 and a quick ratio of 2.15.

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.