Maven Securities LTD Buys 5,000 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Maven Securities LTD boosted its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 41.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Maven Securities LTD’s holdings in Gates Industrial were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in Gates Industrial by 67.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,668 shares of the company’s stock worth $1,093,000 after acquiring an additional 24,946 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of Gates Industrial by 15.8% in the first quarter. California State Teachers Retirement System now owns 171,137 shares of the company’s stock valued at $3,031,000 after purchasing an additional 23,291 shares in the last quarter. Park Avenue Securities LLC increased its position in Gates Industrial by 172.6% in the second quarter. Park Avenue Securities LLC now owns 65,962 shares of the company’s stock worth $1,043,000 after purchasing an additional 41,762 shares during the last quarter. CWM LLC raised its stake in Gates Industrial by 58.6% during the second quarter. CWM LLC now owns 39,407 shares of the company’s stock valued at $623,000 after purchasing an additional 14,555 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Gates Industrial by 602.9% during the second quarter. SG Americas Securities LLC now owns 66,419 shares of the company’s stock valued at $1,050,000 after purchasing an additional 56,970 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Price Performance

GTES opened at $22.93 on Friday. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average of $19.72 and a 200 day moving average of $17.88. Gates Industrial Corp PLC has a 52-week low of $11.22 and a 52-week high of $23.34. The stock has a market cap of $5.84 billion, a P/E ratio of 27.63 and a beta of 1.38.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GTES shares. Royal Bank of Canada upgraded shares of Gates Industrial from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $20.00 to $22.00 in a report on Monday, August 19th. Evercore ISI upped their price objective on Gates Industrial from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. KeyCorp raised their price objective on Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Barclays raised Gates Industrial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $21.00 to $25.00 in a research report on Thursday. Finally, Morgan Stanley began coverage on Gates Industrial in a research report on Friday, September 6th. They issued an “equal weight” rating and a $19.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.80.

Gates Industrial 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.