Envestnet Asset Administration Inc. elevated its place in Gates Industrial Corp PLC (NYSE:GTES – Free Report) by 102.8% throughout the second quarter, in accordance with its most up-to-date Type 13F submitting with the Securities and Alternate Fee. The institutional investor owned 1,222,241 shares of the corporate’s inventory after shopping for a further 619,670 shares throughout the interval. Envestnet Asset Administration Inc.’s holdings in Gates Industrial had been value $19,324,000 on the finish of the latest quarter.
Different hedge funds and different institutional traders additionally not too long ago added to or lowered their stakes within the firm. Headlands Applied sciences LLC raised its holdings in shares of Gates Industrial by 341.1% throughout the 2nd quarter. Headlands Applied sciences LLC now owns 1,707 shares of the corporate’s inventory value $27,000 after buying a further 1,320 shares within the final quarter. TFO Wealth Companions LLC lifted its place in Gates Industrial by 68,390.0% throughout the fourth quarter. TFO Wealth Companions LLC now owns 6,849 shares of the corporate’s inventory valued at $92,000 after buying a further 6,839 shares over the last quarter. Johnson Monetary Group Inc. elevated its holdings in shares of Gates Industrial by 26.4% within the 4th quarter. Johnson Monetary Group Inc. now owns 7,919 shares of the corporate’s inventory value $106,000 after shopping for a further 1,654 shares over the last quarter. Envestnet Portfolio Options Inc. bought a brand new stake in shares of Gates Industrial throughout the 4th quarter valued at about $147,000. Lastly, Levin Capital Methods L.P. purchased a brand new place in shares of Gates Industrial within the 2nd quarter valued at about $158,000. 98.50% of the inventory is owned by institutional traders.
Insider Exercise
In different Gates Industrial information, Director Wilson S. Neely acquired 11,952 shares of the inventory in a transaction that occurred on Wednesday, August twenty first. The inventory was purchased at a median price of $16.80 per share, with a complete worth of $200,793.60. Following the completion of the acquisition, the director now straight owns 6,000 shares within the firm, valued at $100,800. The acquisition was disclosed in a doc filed with the Securities & Alternate Fee, which is obtainable by means of this hyperlink. Insiders personal 2.30% of the corporate’s inventory.
Analysts Set New Value Targets
GTES has been the subject of a number of analyst stories. The Goldman Sachs Group upped their value goal on Gates Industrial from $18.00 to $20.00 and gave the corporate a “impartial” score in a analysis report on Thursday, August 1st. Barclays decreased their value goal on Gates Industrial from $17.00 to $16.00 and set an “equal weight” score on the inventory in a report on Tuesday, June 4th. Morgan Stanley initiated protection on shares of Gates Industrial in a analysis observe on Friday, September sixth. They set an “equal weight” score and a $19.00 value goal for the corporate. Robert W. Baird lowered their goal value on shares of Gates Industrial from $26.00 to $22.00 and set an “outperform” score on the inventory in a analysis observe on Thursday, August 1st. Lastly, Evercore ISI lifted their value goal on shares of Gates Industrial from $15.00 to $16.00 and gave the inventory an “in-line” score in a analysis observe on Monday, August nineteenth. 4 equities analysis analysts have rated the inventory with a maintain score and 6 have assigned a purchase score to the corporate. In response to knowledge from MarketBeat.com, the inventory presently has a consensus score of “Reasonable Purchase” and a median goal value of $19.40.
View Our Newest Evaluation on Gates Industrial
Gates Industrial Value Efficiency
Gates Industrial inventory opened at $17.76 on Tuesday. The inventory has a market cap of $4.64 billion, a price-to-earnings ratio of 19.51 and a beta of 1.41. The agency has a 50-day transferring common of $17.27 and a two-hundred day transferring common of $17.00. Gates Industrial Corp PLC has a 1 12 months low of $10.68 and a 1 12 months excessive of $19.07. The corporate has a debt-to-equity ratio of 0.68, a present ratio of three.11 and a fast ratio of two.20.
Gates Industrial (NYSE:GTES – Get Free Report) final introduced its quarterly earnings knowledge on Wednesday, July thirty first. The corporate reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. The corporate had income of $885.50 million for the quarter, in comparison with analysts’ expectations of $893.00 million. Gates Industrial had a return on fairness of 10.27% and a web margin of seven.24%. On common, analysis analysts forecast that Gates Industrial Corp PLC will put up 1.24 earnings per share for the present 12 months.
Gates Industrial introduced that its Board of Administrators has initiated a inventory repurchase plan on Wednesday, July thirty first that authorizes the corporate to buyback $250.00 million in excellent shares. This buyback authorization authorizes the corporate to reacquire as much as 5.4% of its shares by means of open market purchases. Shares buyback plans are sometimes an indication that the corporate’s administration believes its shares are undervalued.
Gates Industrial Firm Profile
Gates Industrial Company PLC designs and manufactures energy transmission tools. Its merchandise serves harsh and unsafe industries equivalent to agriculture, development, manufacturing and power, to on a regular basis shopper functions equivalent to printers, energy washers, computerized doorways and vacuum cleaners and nearly each type of transportation.
Additional Studying
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