Captrust Financial Advisors trimmed its stake in shares of Gates Industrial Corp PLC (NYSE:GTES – Free Report) by 21.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,599 shares of the company’s stock after selling 12,564 shares during the period. Captrust Financial Advisors’ holdings in Gates Industrial were worth $800,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after buying an additional 814 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Gates Industrial by 2.5% during the 2nd quarter. Bank of Montreal Can now owns 33,800 shares of the company’s stock worth $535,000 after acquiring an additional 823 shares during the period. Covestor Ltd grew its holdings in shares of Gates Industrial by 26.3% in the third quarter. Covestor Ltd now owns 4,812 shares of the company’s stock valued at $84,000 after purchasing an additional 1,001 shares during the period. Tectonic Advisors LLC increased its position in Gates Industrial by 5.5% during the third quarter. Tectonic Advisors LLC now owns 20,128 shares of the company’s stock worth $353,000 after purchasing an additional 1,043 shares during the last quarter. Finally, Fort L.P. raised its stake in Gates Industrial by 9.3% during the third quarter. Fort L.P. now owns 14,423 shares of the company’s stock worth $253,000 after purchasing an additional 1,222 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GTES. KeyCorp lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group upped their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Royal Bank of Canada raised Gates Industrial from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $20.00 to $22.00 in a research note on Monday, August 19th. Citigroup raised their target price on Gates Industrial from $24.00 to $27.00 and gave the company a “buy” rating in a report on Monday. 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 on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.
Read Our Latest Stock Analysis on Gates Industrial
Gates Industrial Stock Down 0.1 %
Gates Industrial stock opened at $22.35 on Wednesday. The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 26.93 and a beta of 1.38. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average of $20.01 and a two-hundred day moving average of $17.98. Gates Industrial Corp PLC has a twelve month low of $11.65 and a twelve month high of $23.34.
About Gates Industrial
(Free Report)
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.
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