Seizert Capital Partners LLC Raises Stock Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Seizert Capital Partners LLC grew its position in Gates Industrial Corp PLC (NYSE:GTES) by 22.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 226,263 shares of the company’s stock after purchasing an additional 41,611 shares during the period. Seizert Capital Partners LLC’s holdings in Gates Industrial were worth $4,654,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC acquired a new position in Gates Industrial in the 3rd quarter worth approximately $597,000. Jennison Associates LLC increased its stake in shares of Gates Industrial by 45.9% in the third quarter. Jennison Associates LLC now owns 4,032,089 shares of the company’s stock worth $70,763,000 after acquiring an additional 1,268,407 shares during the period. Foundry Partners LLC acquired a new stake in shares of Gates Industrial in the third quarter worth $4,247,000. Verition Fund Management LLC raised its holdings in shares of Gates Industrial by 322.7% during the third quarter. Verition Fund Management LLC now owns 379,509 shares of the company’s stock worth $6,660,000 after purchasing an additional 289,722 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Gates Industrial by 20.1% during the third quarter. Victory Capital Management Inc. now owns 1,091,408 shares of the company’s stock valued at $19,154,000 after purchasing an additional 182,307 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Stock Down 3.4 %

Shares of NYSE GTES opened at $19.32 on Wednesday. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 26.46 and a beta of 1.37. The company’s 50-day simple moving average is $21.12 and its 200-day simple moving average is $19.89. The company has a quick ratio of 2.26, a current ratio of 3.20 and a debt-to-equity ratio of 0.72. Gates Industrial Corp PLC has a 52-week low of $14.68 and a 52-week high of $23.85.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.33. Gates Industrial had a return on equity of 9.75% and a net margin of 5.72%. Equities analysts predict that Gates Industrial Corp PLC will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GTES has been the topic of several analyst reports. Evercore ISI increased their price target 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. Barclays raised their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. KeyCorp boosted their price target on Gates Industrial from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada raised their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group boosted their target price on shares of Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Three equities research analysts have rated the stock with a hold rating and seven have issued 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 $23.90.

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.