Level Four Advisory Services LLC Raises Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Level Four Advisory Services LLC boosted its stake in Gates Industrial Corp PLC (NYSE:GTES) by 17.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,733 shares of the company’s stock after buying an additional 12,178 shares during the quarter. Level Four Advisory Services LLC’s holdings in Gates Industrial were worth $1,702,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Pictet Asset Management Holding SA boosted its stake in shares of Gates Industrial by 28.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 33,536 shares of the company’s stock valued at $690,000 after acquiring an additional 7,414 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Gates Industrial in the 4th quarter valued at about $5,844,000. Norges Bank acquired a new stake in shares of Gates Industrial during the 4th quarter worth about $56,520,000. JPMorgan Chase & Co. grew its holdings in shares of Gates Industrial by 1,185.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,363,499 shares of the company’s stock worth $69,187,000 after buying an additional 3,101,738 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in shares of Gates Industrial by 4.8% during the fourth quarter. United Services Automobile Association now owns 14,054 shares of the company’s stock worth $289,000 after buying an additional 646 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

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

Gates Industrial Price Performance

GTES stock opened at $18.48 on Friday. The company has a market cap of $4.72 billion, a PE ratio of 25.31 and a beta of 1.33. 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 stock has a 50-day moving average price of $20.77 and a two-hundred day moving average price of $20.15. 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 issued its 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 9.75% and a net margin of 5.72%. As a group, research analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Insiders Place Their Bets

In related news, Director Fredrik J. Eliasson acquired 60,000 shares of Gates Industrial stock in a transaction on Friday, March 7th. The shares were bought at an average price of $19.56 per share, for a total transaction of $1,173,600.00. Following the completion of the purchase, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.30% of the stock is owned by insiders.

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.