Leeward Investments LLC MA Sells 93,050 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Leeward Investments LLC MA lessened its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,245,892 shares of the company’s stock after selling 93,050 shares during the period. Gates Industrial accounts for about 1.3% of Leeward Investments LLC MA’s investment portfolio, making the stock its 16th largest holding. Leeward Investments LLC MA’s holdings in Gates Industrial were worth $25,628,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in shares of Gates Industrial by 178.3% during the 4th quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock valued at $51,000 after acquiring an additional 1,598 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Gates Industrial by 35.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock valued at $54,000 after acquiring an additional 814 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Gates Industrial during the 3rd quarter valued at about $67,000. Quarry LP bought a new stake in shares of Gates Industrial during the 3rd quarter valued at about $71,000. Finally, Covestor Ltd boosted its position in shares of Gates Industrial by 26.3% during the 3rd quarter. Covestor Ltd now owns 4,812 shares of the company’s stock valued at $84,000 after acquiring an additional 1,001 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $22.29 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 3.20 and a quick ratio of 2.26. The business’s 50 day simple moving average is $21.09 and its two-hundred day simple moving average is $19.67. The stock has a market capitalization of $5.69 billion, a P/E ratio of 30.53 and a beta of 1.37. Gates Industrial Corp PLC has a one year low of $14.14 and a one year high of $23.85.

Gates Industrial (NYSE:GTES) last posted its earnings results on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) 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%. Analysts forecast that Gates Industrial Corp PLC will post 1.36 EPS for the current year.

Analysts Set New Price Targets

GTES has been the subject of a number of recent research reports. Evercore ISI boosted their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday. The Goldman Sachs Group boosted their target price on Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. KeyCorp boosted their target price on Gates Industrial from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Barclays boosted their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group boosted their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Gates Industrial has a consensus rating of “Moderate Buy” and a consensus price target of $23.90.

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.