Gates Industrial Corp PLC (NYSE:GTES – Get Rating) major shareholder Aggregator (Cayman) L.P. Omaha sold 13,750,000 shares of the firm’s stock in a transaction dated Wednesday, March 30th. The shares were sold at an average price of $15.14, for a total value of $208,175,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Shares of GTES stock opened at $14.86 on Friday. The company has a market cap of $4.31 billion, a PE ratio of 14.86 and a beta of 1.62. The company has a current ratio of 2.66, a quick ratio of 1.86 and a debt-to-equity ratio of 0.76. Gates Industrial Corp PLC has a 52 week low of $14.43 and a 52 week high of $18.94. The company’s fifty day simple moving average is $15.47 and its 200-day simple moving average is $16.05.
Gates Industrial (NYSE:GTES – Get Rating) last released its earnings results on Monday, February 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.11. Gates Industrial had a net margin of 8.55% and a return on equity of 12.12%. The business had revenue of $815.60 million for the quarter, compared to the consensus estimate of $815.72 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts expect that Gates Industrial Corp PLC will post 1.15 EPS for the current fiscal year.
A number of research analysts have issued reports on GTES shares. Zacks Investment Research cut Gates Industrial from a “hold” rating to a “sell” rating in a research note on Wednesday, January 19th. KeyCorp dropped their price objective on Gates Industrial from $22.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 8th. Barclays downgraded Gates Industrial from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $22.00 to $18.00 in a research report on Monday, December 6th. Finally, Morgan Stanley decreased their price objective on Gates Industrial from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Gates Industrial has an average rating of “Hold” and a consensus price target of $21.30.
A number of large investors have recently added to or reduced their stakes in GTES. Quent Capital LLC acquired a new stake in shares of Gates Industrial in the 4th quarter valued at approximately $53,000. BNP Paribas Arbitrage SA grew its stake in shares of Gates Industrial by 27.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,175 shares of the company’s stock worth $100,000 after acquiring an additional 1,328 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Gates Industrial by 19.8% in the fourth quarter. SG Americas Securities LLC now owns 7,539 shares of the company’s stock valued at $120,000 after buying an additional 1,247 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in Gates Industrial by 96.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,553 shares of the company’s stock worth $155,000 after purchasing an additional 4,700 shares during the period. Finally, Khrom Capital Management LLC bought a new position in Gates Industrial during the third quarter worth $179,000.
Gates Industrial Company Profile (Get Rating)
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.
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