KLCM Advisors Inc. Trims Stake in Gates Industrial Corp PLC (NYSE:GTES)

KLCM Advisors Inc. lessened its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 718,687 shares of the company’s stock after selling 27,573 shares during the period. Gates Industrial accounts for approximately 1.7% of KLCM Advisors Inc.’s portfolio, making the stock its 20th largest holding. KLCM Advisors Inc. owned approximately 0.28% of Gates Industrial worth $14,783,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its stake in Gates Industrial by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,099,104 shares of the company’s stock valued at $22,609,000 after purchasing an additional 35,266 shares in the last quarter. Principal Securities Inc. raised its position in shares of Gates Industrial by 30.4% during the 4th quarter. Principal Securities Inc. now owns 11,426 shares of the company’s stock valued at $235,000 after buying an additional 2,665 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Gates Industrial by 4.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 15,546,064 shares of the company’s stock valued at $317,461,000 after buying an additional 616,687 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in shares of Gates Industrial by 67.4% during the 4th quarter. Summit Trail Advisors LLC now owns 39,376 shares of the company’s stock worth $810,000 after acquiring an additional 15,854 shares during the last quarter. Finally, Savant Capital LLC grew its position in Gates Industrial by 1.3% in the fourth quarter. Savant Capital LLC now owns 124,913 shares of the company’s stock worth $2,569,000 after acquiring an additional 1,629 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays raised their price target on Gates Industrial from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada raised their price objective on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group upped their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. KeyCorp lifted their price target on shares of Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group upped their price objective on shares of Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.20.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $22.67 on Monday. The firm has a market cap of $5.78 billion, a PE ratio of 31.06 and a beta of 1.37. The company’s fifty day simple moving average is $21.00 and its two-hundred day simple moving average is $19.47. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. Gates Industrial Corp PLC has a 12-month low of $13.17 and a 12-month high of $23.34.

Gates Industrial (NYSE:GTES) last posted its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.65% and a net margin of 5.72%. As a group, equities analysts expect that Gates Industrial Corp PLC will post 1.4 EPS for the current 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.