Gates Industrial Corp PLC (NYSE:GTES) is Paradice Investment Management LLC’s 3rd Largest Position

Paradice Investment Management LLC trimmed its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,708,608 shares of the company’s stock after selling 122,440 shares during the period. Gates Industrial makes up about 7.0% of Paradice Investment Management LLC’s holdings, making the stock its 3rd largest holding. Paradice Investment Management LLC owned approximately 0.67% of Gates Industrial worth $35,146,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in 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 in the last quarter. Venturi Wealth Management LLC lifted its stake in Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after purchasing an additional 814 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Gates Industrial during the third quarter worth $67,000. Quarry LP acquired a new position in Gates Industrial during the third quarter worth $71,000. Finally, Covestor Ltd lifted its stake in Gates Industrial by 26.3% during the third quarter. Covestor Ltd now owns 4,812 shares of the company’s stock worth $84,000 after purchasing an additional 1,001 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Stock Up 2.2 %

Shares of NYSE GTES opened at $22.67 on Tuesday. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 31.06 and a beta of 1.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11. The business has a 50-day moving average of $21.01 and a two-hundred day moving average of $19.50. Gates Industrial Corp PLC has a 1 year low of $13.17 and a 1 year high of $23.34.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.33. Gates Industrial had a return on equity of 9.65% and a net margin of 5.72%. On average, analysts forecast that Gates Industrial Corp PLC will post 1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. KeyCorp increased their price objective on Gates Industrial from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada lifted their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group lifted their target price on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 6th. The Goldman Sachs Group lifted their target price on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Citigroup decreased their target price on Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $23.20.

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.