Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC grew its stake in Gates Industrial Corp PLC (NYSE:GTES) by 180.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,640 shares of the company’s stock after buying an additional 5,561 shares during the quarter. Venturi Wealth Management LLC’s holdings in Gates Industrial were worth $178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GTES. Tectonic Advisors LLC raised its holdings in Gates Industrial by 3.6% in the 4th quarter. Tectonic Advisors LLC now owns 20,852 shares of the company’s stock worth $429,000 after purchasing an additional 724 shares during the period. Covestor Ltd raised its holdings in Gates Industrial by 26.3% in the 3rd quarter. Covestor Ltd now owns 4,812 shares of the company’s stock worth $84,000 after purchasing an additional 1,001 shares during the period. GAMMA Investing LLC raised its holdings in Gates Industrial by 29.0% in the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after purchasing an additional 1,130 shares during the period. Fort L.P. raised its holdings in Gates Industrial by 9.3% in the 3rd quarter. Fort L.P. now owns 14,423 shares of the company’s stock worth $253,000 after purchasing an additional 1,222 shares during the period. Finally, Integrated Advisors Network LLC raised its holdings in Gates Industrial by 5.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 29,952 shares of the company’s stock worth $526,000 after purchasing an additional 1,436 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Price Performance

GTES stock opened at $22.29 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The business has a 50 day simple moving average of $21.09 and a 200-day simple moving average of $19.64. The firm has a market capitalization of $5.69 billion, a PE ratio of 30.53 and a beta of 1.37. Gates Industrial Corp PLC has a 1 year low of $14.14 and a 1 year high of $23.85.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GTES shares. Evercore ISI upped their price target on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a report on Wednesday. Barclays upped their price target on Gates Industrial from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. KeyCorp upped their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their price objective on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Citigroup cut their price objective on Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, January 13th. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $23.90.

Gates Industrial Company 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.