Cwm LLC Acquires 7,595 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Cwm LLC raised its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 102.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,028 shares of the company’s stock after purchasing an additional 7,595 shares during the quarter. Cwm LLC’s holdings in Gates Industrial were worth $202,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC increased its position in Gates Industrial by 796.0% during the 4th quarter. SG Americas Securities LLC now owns 88,480 shares of the company’s stock worth $1,187,000 after purchasing an additional 78,605 shares in the last quarter. Auxier Asset Management increased its holdings in shares of Gates Industrial by 10.8% during the third quarter. Auxier Asset Management now owns 174,349 shares of the company’s stock worth $2,024,000 after buying an additional 17,000 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Gates Industrial by 20.9% in the 4th quarter. Pacer Advisors Inc. now owns 3,613,276 shares of the company’s stock valued at $48,490,000 after acquiring an additional 624,517 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Gates Industrial by 8.9% during the 3rd quarter. American Century Companies Inc. now owns 7,602,491 shares of the company’s stock valued at $88,265,000 after acquiring an additional 620,131 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Gates Industrial by 28.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,300,192 shares of the company’s stock worth $165,069,000 after acquiring an additional 2,697,624 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Insiders Place Their Bets

In related news, Director Wilson S. Neely bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were bought at an average price of $13.24 per share, for a total transaction of $132,400.00. Following the transaction, the director now directly owns 56,664 shares of the company’s stock, valued at $750,231.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Wilson S. Neely bought 10,000 shares of Gates Industrial stock in a transaction dated Tuesday, February 20th. The stock was bought at an average cost of $13.24 per share, for a total transaction of $132,400.00. Following the purchase, the director now directly owns 56,664 shares in the company, valued at approximately $750,231.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Neil P. Simpkins purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average cost of $12.20 per share, for a total transaction of $12,200,000.00. Following the completion of the purchase, the director now owns 1,000,000 shares in the company, valued at approximately $12,200,000. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,030,492 shares of company stock worth $12,582,402. Corporate insiders own 2.30% of the company’s stock.

Gates Industrial Stock Performance

Shares of GTES opened at $16.18 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.25 and a debt-to-equity ratio of 0.69. The firm’s fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $14.04. Gates Industrial Corp PLC has a 12 month low of $10.68 and a 12 month high of $17.99. The stock has a market capitalization of $4.23 billion, a P/E ratio of 17.78 and a beta of 1.54.

Gates Industrial (NYSE:GTES) last announced its earnings results on Thursday, February 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.27 by $0.10. Gates Industrial had a return on equity of 10.52% and a net margin of 6.97%. The company had revenue of $863.30 million for the quarter, compared to analyst estimates of $892.40 million. As a group, analysts predict that Gates Industrial Corp PLC will post 1.32 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Robert W. Baird increased their target price on Gates Industrial from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday. TheStreet upgraded shares of Gates Industrial from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. Jefferies Financial Group started coverage on shares of Gates Industrial in a research note on Thursday, February 29th. They set a “buy” rating and a $21.00 price target for the company. Citigroup boosted their price objective on shares of Gates Industrial from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, KeyCorp raised Gates Industrial from a “sector weight” rating to an “overweight” rating and set a $18.00 target price for the company in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.78.

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.