Aster Capital Management DIFC Ltd Invests $43,000 in Gates Industrial Corp PLC (NYSE:GTES)

Aster Capital Management DIFC Ltd purchased a new position in shares of Gates Industrial Corp PLC (NYSE:GTES) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,100 shares of the company’s stock, valued at approximately $43,000.

A number of other large investors have also recently made changes to their positions in GTES. State Street Corp boosted its holdings in shares of Gates Industrial by 112.9% in the third quarter. State Street Corp now owns 6,523,366 shares of the company’s stock valued at $114,485,000 after acquiring an additional 3,459,450 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Gates Industrial by 1,185.0% in the fourth quarter. JPMorgan Chase & Co. now owns 3,363,499 shares of the company’s stock valued at $69,187,000 after acquiring an additional 3,101,738 shares during the period. Norges Bank acquired a new stake in shares of Gates Industrial in the fourth quarter valued at approximately $56,520,000. Franklin Resources Inc. boosted its holdings in shares of Gates Industrial by 138.0% in the third quarter. Franklin Resources Inc. now owns 3,829,155 shares of the company’s stock valued at $68,159,000 after acquiring an additional 2,220,277 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Gates Industrial during the fourth quarter worth $42,080,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Price Performance

Shares of NYSE GTES opened at $17.94 on Thursday. Gates Industrial Corp PLC has a 1-year low of $14.70 and a 1-year high of $23.85. The firm has a market capitalization of $4.58 billion, a PE ratio of 24.58 and a beta of 1.24. The business’s fifty day moving average price is $20.10 and its two-hundred day moving average price is $20.12. 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 earnings results 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 return on equity of 9.75% and a net margin of 5.72%. On average, research analysts expect that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Insider Activity at Gates Industrial

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. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GTES. Citigroup decreased their price target on Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a report on Monday, January 13th. Barclays reduced their target price on Gates Industrial from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Evercore ISI raised their target price on Gates Industrial from $22.00 to $23.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. KeyCorp reduced their target price on Gates Industrial from $27.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Royal Bank of Canada raised their price target on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.33.

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.