Gates Industrial Corp PLC (NYSE:GTES) Holdings Lifted by De Lisle Partners LLP

De Lisle Partners LLP boosted its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 32.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,388 shares of the company’s stock after acquiring an additional 26,000 shares during the quarter. De Lisle Partners LLP’s holdings in Gates Industrial were worth $1,867,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GTES. Headlands Technologies LLC increased its stake in shares of Gates Industrial by 341.1% in the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock worth $27,000 after acquiring an additional 1,320 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Gates Industrial by 35.9% in the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after purchasing an additional 814 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Gates Industrial during the third quarter worth approximately $67,000. GAMMA Investing LLC raised its stake in Gates Industrial by 333.9% during the 3rd quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after purchasing an additional 2,998 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Gates Industrial by 26.3% during the third quarter. Covestor Ltd now owns 4,812 shares of the company’s stock valued at $84,000 after buying an additional 1,001 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Stock Down 0.4 %

Shares of NYSE GTES opened at $22.12 on Thursday. Gates Industrial Corp PLC has a 12-month low of $11.22 and a 12-month high of $22.43. The firm’s 50-day simple moving average is $19.07 and its 200 day simple moving average is $17.63. The company has a quick ratio of 2.11, a current ratio of 3.02 and a debt-to-equity ratio of 0.70. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 26.76 and a beta of 1.38.

Gates Industrial declared that its Board of Directors has initiated a share buyback program on Wednesday, July 31st that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 5.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GTES has been the topic of a number of research reports. Robert W. Baird lowered their price objective on Gates Industrial from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of Gates Industrial from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Evercore ISI lifted their target price on shares of Gates Industrial from $15.00 to $16.00 and gave the company an “in-line” rating in a research report on Monday, August 19th. Barclays upped their target price on shares of Gates Industrial from $16.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley started coverage on shares of Gates Industrial in a research note on Friday, September 6th. They set an “equal weight” rating and a $19.00 price target for the company. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average price target of $20.40.

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.