KLCM Advisors Inc. Sells 36,382 Shares of Gates Industrial Corp PLC (NYSE:GTES)

KLCM Advisors Inc. decreased its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 5.1% during the 4th quarter, Holdings Channel reports. The fund owned 676,773 shares of the company’s stock after selling 36,382 shares during the quarter. Gates Industrial accounts for about 1.4% of KLCM Advisors Inc.’s investment portfolio, making the stock its 26th biggest holding. KLCM Advisors Inc.’s holdings in Gates Industrial were worth $9,082,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GTES. Tower Research Capital LLC TRC lifted its stake in Gates Industrial by 207.3% in the first quarter. Tower Research Capital LLC TRC now owns 2,354 shares of the company’s stock valued at $33,000 after buying an additional 1,588 shares in the last quarter. Acadian Asset Management LLC bought a new position in Gates Industrial in the first quarter valued at approximately $45,000. Quarry LP bought a new position in Gates Industrial in the first quarter valued at approximately $51,000. Covestor Ltd lifted its stake in Gates Industrial by 42.8% in the third quarter. Covestor Ltd now owns 4,852 shares of the company’s stock valued at $57,000 after buying an additional 1,454 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Gates Industrial in the third quarter valued at approximately $77,000. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GTES. Evercore ISI boosted their price objective on shares of Gates Industrial from $12.50 to $14.00 and gave the stock an “in-line” rating in a research report on Tuesday, February 20th. Citigroup boosted their price objective on shares of Gates Industrial from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. TheStreet raised shares of Gates Industrial from a “c+” rating to a “b-” rating in a research report on Monday, January 8th. KeyCorp raised shares of Gates Industrial from a “sector weight” rating to an “overweight” rating and set a $18.00 price objective on the stock in a research report on Thursday, February 22nd. Finally, Wolfe Research raised shares of Gates Industrial from a “peer perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday, March 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Gates Industrial Stock Performance

Shares of NYSE:GTES traded up $0.04 on Wednesday, hitting $17.34. The company had a trading volume of 1,673,143 shares, compared to its average volume of 2,689,459. Gates Industrial Corp PLC has a 1-year low of $10.68 and a 1-year high of $17.86. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of 20.40 and a beta of 1.57. The stock has a 50 day moving average price of $15.88 and a 200 day moving average price of $13.52. The company has a current ratio of 3.08, a quick ratio of 2.25 and a debt-to-equity ratio of 0.70.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.27 by $0.10. Gates Industrial had a net margin of 6.52% and a return on equity of 10.14%. The firm had revenue of $863.30 million for the quarter, compared to the consensus estimate of $892.40 million. Analysts expect that Gates Industrial Corp PLC will post 1.32 EPS for the current year.

Insider Activity at Gates Industrial

In other Gates Industrial news, Director Wilson S. Neely purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were acquired at an average cost of $13.24 per share, for a total transaction of $132,400.00. Following the completion of the purchase, the director now owns 56,664 shares of the company’s stock, valued at approximately $750,231.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ivo Jurek acquired 20,492 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average price of $12.20 per share, with a total value of $250,002.40. Following the completion of the transaction, the chief executive officer now directly owns 626,088 shares of the company’s stock, valued at approximately $7,638,273.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wilson S. Neely acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were purchased at an average cost of $13.24 per share, with a total value of $132,400.00. Following the transaction, the director now directly owns 56,664 shares of the company’s stock, valued at $750,231.36. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,030,492 shares of company stock worth $12,582,402. Corporate insiders own 2.30% of the company’s stock.

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.