Sei Investments Co. Buys 104,875 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Sei Investments Co. increased its stake in shares of Gates Industrial Corp PLC (NYSE:GTES) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,717,003 shares of the company’s stock after buying an additional 104,875 shares during the quarter. Sei Investments Co. owned 0.67% of Gates Industrial worth $35,319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Assetmark Inc. boosted its holdings in Gates Industrial by 2,968.6% during the 4th quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock worth $32,000 after acquiring an additional 1,514 shares during the last quarter. Versant Capital Management Inc boosted its holdings 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 during the last quarter. SRS Capital Advisors Inc. grew its position in Gates Industrial by 38.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock worth $54,000 after purchasing an additional 724 shares in the last quarter. Quarry LP purchased a new stake in Gates Industrial in the 3rd quarter valued at about $71,000. Finally, GAMMA Investing LLC lifted its position in shares of Gates Industrial by 29.0% during the 4th quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after buying an additional 1,130 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GTES has been the topic of several research analyst reports. Barclays cut their price objective on Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Jefferies Financial Group increased their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group lowered their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Evercore ISI increased their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Finally, Citigroup lowered their price target on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Gates Industrial presently has an average rating of “Moderate Buy” and a consensus target price of $24.11.

Gates Industrial Price Performance

GTES stock opened at $20.11 on Tuesday. The firm has a 50 day moving average of $20.84 and a 200-day moving average of $20.09. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.14 billion, a P/E ratio of 27.54 and a beta of 1.33. Gates Industrial Corp PLC has a 12 month low of $15.14 and a 12 month high of $23.85.

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

Insider Transactions at Gates Industrial

In other news, Director Fredrik J. Eliasson acquired 60,000 shares of Gates Industrial stock in a transaction dated Friday, March 7th. The shares were purchased at an average cost of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now owns 188,452 shares of the company’s stock, valued at $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is owned by insiders.

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.