Gates Industrial Corp PLC (GTES) Shares Bought by Stone Ridge Asset Management LLC

Stone Ridge Asset Management LLC lifted its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 51.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,137 shares of the company’s stock after buying an additional 18,835 shares during the period. Stone Ridge Asset Management LLC’s holdings in Gates Industrial were worth $730,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Wright Investors Service Inc. grew its position in shares of Gates Industrial by 7.9% in the 4th quarter. Wright Investors Service Inc. now owns 11,459 shares of the company’s stock valued at $152,000 after buying an additional 840 shares during the last quarter. Diversified Trust Co raised its stake in shares of Gates Industrial by 7.2% in the fourth quarter. Diversified Trust Co now owns 12,980 shares of the company’s stock worth $172,000 after purchasing an additional 870 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Gates Industrial in the fourth quarter worth approximately $226,000. Verition Fund Management LLC purchased a new stake in shares of Gates Industrial in the third quarter worth approximately $369,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of Gates Industrial in the fourth quarter worth approximately $272,000.

Shares of Gates Industrial stock opened at $14.71 on Monday. The company has a market capitalization of $4.18 billion, a PE ratio of 11.49 and a beta of 1.73. Gates Industrial Corp PLC has a 52 week low of $12.19 and a 52 week high of $20.29. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.67 and a quick ratio of 1.88.



Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Tuesday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.27 by $0.09. The firm had revenue of $792.10 million during the quarter, compared to the consensus estimate of $825.54 million. Gates Industrial had a return on equity of 16.23% and a net margin of 7.33%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts predict that Gates Industrial Corp PLC will post 1.31 earnings per share for the current fiscal year.

Several analysts have recently commented on GTES shares. ValuEngine raised Gates Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Zacks Investment Research raised Gates Industrial from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, January 8th. Morgan Stanley set a $16.00 price objective on Gates Industrial and gave the stock a “hold” rating in a research note on Thursday, February 14th. Finally, Barclays lowered their price objective on Gates Industrial from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Monday, December 17th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Gates Industrial has a consensus rating of “Hold” and an average target price of $18.40.

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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.

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Institutional Ownership by Quarter for Gates Industrial (NYSE:GTES)

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