Level Four Advisory Services LLC Grows Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Level Four Advisory Services LLC lifted its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 17.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 82,733 shares of the company’s stock after buying an additional 12,178 shares during the quarter. Level Four Advisory Services LLC’s holdings in Gates Industrial were worth $1,702,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GTES. Verition Fund Management LLC grew its holdings in Gates Industrial by 322.7% during the 3rd quarter. Verition Fund Management LLC now owns 379,509 shares of the company’s stock worth $6,660,000 after acquiring an additional 289,722 shares in the last quarter. Stifel Financial Corp grew its stake in Gates Industrial by 40.3% in the third quarter. Stifel Financial Corp now owns 139,338 shares of the company’s stock worth $2,445,000 after purchasing an additional 40,027 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Gates Industrial by 22.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,331,110 shares of the company’s stock worth $40,911,000 after purchasing an additional 428,297 shares in the last quarter. Park Avenue Securities LLC increased its holdings in Gates Industrial by 29.1% in the fourth quarter. Park Avenue Securities LLC now owns 49,939 shares of the company’s stock valued at $1,027,000 after buying an additional 11,251 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in Gates Industrial during the third quarter valued at approximately $456,000. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

GTES has been the subject of several research reports. Barclays decreased their target price on Gates Industrial from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, March 19th. Evercore ISI increased their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group increased their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.00.

Insider Activity

In related news, Director Fredrik J. Eliasson bought 60,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now directly owns 188,452 shares of the company’s stock, valued at approximately $3,686,121.12. This represents a 46.71 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Gates Industrial Trading Down 4.4 %

Gates Industrial stock opened at $18.48 on Friday. Gates Industrial Corp PLC has a 52-week low of $15.14 and a 52-week high of $23.85. 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 capitalization of $4.72 billion, a price-to-earnings ratio of 25.31 and a beta of 1.33. The firm has a 50-day moving average price of $20.77 and a two-hundred day moving average price of $20.15.

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 the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. Sell-side analysts expect that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

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.