Hantz Financial Services Inc. Buys 28,280 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Hantz Financial Services Inc. lifted its holdings in Gates Industrial Corp PLC (NYSE:GTES) by 50.5% in the fourth quarter, HoldingsChannel reports. The firm owned 84,253 shares of the company’s stock after purchasing an additional 28,280 shares during the quarter. Hantz Financial Services Inc.’s holdings in Gates Industrial were worth $1,733,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GTES. GAMMA Investing LLC lifted its position in shares of Gates Industrial by 333.9% during the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock worth $68,000 after purchasing an additional 2,998 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in Gates Industrial in the third quarter worth approximately $597,000. Jennison Associates LLC grew its position in shares of Gates Industrial by 45.9% during the 3rd quarter. Jennison Associates LLC now owns 4,032,089 shares of the company’s stock worth $70,763,000 after buying an additional 1,268,407 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Gates Industrial in the third quarter valued at about $4,247,000. Finally, Verition Fund Management LLC increased its position in Gates Industrial by 322.7% during the 3rd quarter. Verition Fund Management LLC now owns 379,509 shares of the company’s stock valued at $6,660,000 after purchasing an additional 289,722 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Trading Down 0.6 %

Shares of Gates Industrial stock opened at $20.70 on Friday. Gates Industrial Corp PLC has a 12-month low of $12.40 and a 12-month high of $23.34. The firm’s 50 day simple moving average is $21.09 and its two-hundred day simple moving average is $19.14. 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 firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 24.94 and a beta of 1.38.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GTES. Royal Bank of Canada increased their price objective on shares of Gates Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Barclays upgraded Gates Industrial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $25.00 in a research note on Thursday, December 5th. The Goldman Sachs Group boosted their target price on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. KeyCorp raised their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Citigroup reduced their price objective on shares of Gates Industrial from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $22.50.

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.