Fox Run Management L.L.C. Makes New Investment in Gates Industrial Corp PLC (NYSE:GTES)

Fox Run Management L.L.C. acquired a new stake in Gates Industrial Corp PLC (NYSE:GTES) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,180 shares of the company’s stock, valued at approximately $251,000.

A number of other hedge funds also recently made changes to their positions in GTES. Assetmark Inc. grew 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 valued at $32,000 after purchasing an additional 1,514 shares in the last quarter. Versant Capital Management Inc boosted its position in Gates Industrial by 178.3% in the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock valued at $51,000 after buying an additional 1,598 shares during the last quarter. SRS Capital Advisors Inc. boosted 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 valued at $54,000 after buying an additional 724 shares during the last quarter. Quarry LP acquired a new stake in shares of Gates Industrial during the third quarter valued at about $71,000. Finally, GAMMA Investing LLC increased its position 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 worth $103,000 after acquiring an additional 1,130 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GTES. Jefferies Financial Group increased their price target on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada increased their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Evercore ISI lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Barclays reduced their price objective on shares of Gates Industrial from $26.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Citigroup dropped their target price on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Insider Activity

In other news, Director Fredrik J. Eliasson purchased 60,000 shares of Gates Industrial stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the completion of the acquisition, the director now owns 188,452 shares in the company, valued at $3,686,121.12. The trade was a 46.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Gates Industrial Stock Down 1.7 %

GTES stock opened at $19.41 on Friday. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 26.59 and a beta of 1.33. Gates Industrial Corp PLC has a 1-year low of $15.14 and a 1-year high of $23.85. The firm has a fifty day moving average price of $20.81 and a two-hundred day moving average price of $20.11. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share 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%. Research analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Gates Industrial Company 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.