OneDigital Investment Advisors LLC Decreases Stock Position in Gates Industrial Corp PLC (NYSE:GTES)

OneDigital Investment Advisors LLC trimmed its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,464 shares of the company’s stock after selling 776 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Gates Industrial were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of GTES. HighTower Advisors LLC bought a new stake in Gates Industrial in the third quarter worth about $179,000. Geode Capital Management LLC lifted its stake in shares of Gates Industrial by 16.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,460,855 shares of the company’s stock worth $60,755,000 after acquiring an additional 476,962 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Gates Industrial by 138.0% during the 3rd quarter. Franklin Resources Inc. now owns 3,829,155 shares of the company’s stock valued at $68,159,000 after acquiring an additional 2,220,277 shares during the period. Principal Financial Group Inc. grew its position in Gates Industrial by 6,879.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,063,838 shares of the company’s stock valued at $18,670,000 after acquiring an additional 1,048,596 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Gates Industrial by 178.3% during the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after purchasing an additional 1,598 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays cut their price target on shares of Gates Industrial from $25.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Citigroup decreased their price target on shares of Gates Industrial from $27.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, April 14th. KeyCorp dropped their price objective on Gates Industrial from $27.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI lifted their target price on Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada increased their price target on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Insider Activity

In related news, Director Fredrik J. Eliasson bought 60,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the purchase, the director now directly owns 188,452 shares of the company’s stock, valued at approximately $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

Gates Industrial Trading Up 0.5 %

Shares of NYSE:GTES opened at $16.93 on Friday. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.32 billion, a PE ratio of 23.19 and a beta of 1.24. Gates Industrial Corp PLC has a 12-month low of $14.70 and a 12-month high of $23.85. The business’s fifty day simple moving average is $19.45 and its 200-day simple moving average is $20.08.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data 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%. As a group, equities research analysts predict that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal 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.