Gates Industrial Corp PLC (NYSE:GTES) Holdings Boosted by United Services Automobile Association

United Services Automobile Association grew its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,054 shares of the company’s stock after purchasing an additional 646 shares during the period. United Services Automobile Association’s holdings in Gates Industrial were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Assetmark Inc. raised its position in Gates Industrial by 2,968.6% during the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock valued at $32,000 after buying an additional 1,514 shares during the period. Versant Capital Management Inc increased its holdings in shares of Gates Industrial by 178.3% in the 4th 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. SRS Capital Advisors Inc. lifted 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 purchasing an additional 724 shares in the last quarter. Quarry LP acquired a new stake in shares of Gates Industrial during the third quarter worth approximately $71,000. Finally, GAMMA Investing LLC grew 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 valued at $103,000 after purchasing an additional 1,130 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Stock Up 3.8 %

Shares of Gates Industrial stock opened at $20.11 on Tuesday. Gates Industrial Corp PLC has a 12-month low of $15.14 and a 12-month high of $23.85. The stock has a market capitalization of $5.14 billion, a P/E ratio of 27.54 and a beta of 1.33. 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 stock has a 50 day moving average price of $20.84 and a two-hundred day moving average price of $20.09.

Gates Industrial (NYSE:GTES) last announced its earnings results on Thursday, February 13th. The company reported $0.33 EPS for the quarter, hitting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. Equities analysts expect that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. 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. Royal Bank of Canada upped their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group lifted their price target on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 6th. Evercore ISI increased 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. Finally, Barclays dropped their price objective on Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.11.

Insider Buying and Selling

In related news, Director Fredrik J. Eliasson acquired 60,000 shares of the stock in a transaction dated Friday, March 7th. The shares were 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. The trade was a 46.71 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by insiders.

About Gates Industrial

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.