Gates Industrial Corp PLC (NYSE:GTES) Shares Acquired by United Services Automobile Association

United Services Automobile Association increased its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,054 shares of the company’s stock after acquiring an additional 646 shares during the quarter. United Services Automobile Association’s holdings in Gates Industrial were worth $289,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of 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 purchasing an additional 1,514 shares during the period. Versant Capital Management Inc grew its stake in Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after buying an additional 1,598 shares during the last quarter. SRS Capital Advisors Inc. increased its position in Gates Industrial by 38.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock worth $54,000 after buying an additional 724 shares during the period. Quarry LP bought a new stake in Gates Industrial in the third quarter valued at $71,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Gates Industrial by 29.0% during the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock valued at $103,000 after acquiring an additional 1,130 shares during the period. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Trading Up 3.8 %

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

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. On average, sell-side analysts expect that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the transaction, the director now directly owns 188,452 shares of the company’s stock, valued at $3,686,121.12. This trade represents a 46.71 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on GTES. Barclays dropped their price objective on shares of Gates Industrial from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, March 10th. Royal Bank of Canada boosted their price objective on Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group raised their target price on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, December 6th. KeyCorp boosted their price target on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Citigroup lowered their price target on Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and an average target price of $24.11.

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.