2,100 Shares in Gates Industrial Corp PLC (NYSE:GTES) Purchased by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd purchased a new position in shares of Gates Industrial Corp PLC (NYSE:GTES) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 2,100 shares of the company’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GTES. HighTower Advisors LLC purchased a new stake in shares of Gates Industrial during the 3rd quarter worth about $179,000. Stifel Financial Corp raised its stake in shares of Gates Industrial by 40.3% in the 3rd quarter. Stifel Financial Corp now owns 139,338 shares of the company’s stock valued at $2,445,000 after acquiring an additional 40,027 shares in the last quarter. State Street Corp raised its stake in shares of Gates Industrial by 112.9% in the 3rd quarter. State Street Corp now owns 6,523,366 shares of the company’s stock valued at $114,485,000 after acquiring an additional 3,459,450 shares in the last quarter. EP Wealth Advisors LLC bought a new position in shares of Gates Industrial in the 3rd quarter valued at approximately $245,000. Finally, XTX Topco Ltd bought a new position in shares of Gates Industrial in the 3rd quarter valued at approximately $536,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Price Performance

Shares of NYSE:GTES opened at $17.94 on Thursday. Gates Industrial Corp PLC has a 1-year low of $14.70 and a 1-year high of $23.85. The firm has a market capitalization of $4.58 billion, a PE ratio of 24.58 and a beta of 1.24. The business’s 50 day moving average is $20.10 and its 200-day 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 (NYSE:GTES) last posted 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 return on equity of 9.75% and a net margin of 5.72%. Sell-side analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other Gates Industrial news, Director Fredrik J. Eliasson acquired 60,000 shares of the business’s stock in a transaction 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 owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank of Canada raised their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Citigroup lowered their target price on Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Barclays lowered their target price on Gates Industrial from $26.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Evercore ISI raised their target price on Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered their target price on Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.33.

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.