Grant Gawronski Purchases 5,000 Shares of Gates Industrial Corp PLC (GTES) Stock

Grant Gawronski Purchases 5,000 Shares of Gates Industrial Corp PLC (GTES) Stock

Gates Industrial Corp PLC (NYSE:GTES) EVP Grant Gawronski purchased 5,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $13.08 per share, for a total transaction of $65,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

GTES stock opened at $13.06 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.99 and a current ratio of 2.86. Gates Industrial Corp PLC has a 52 week low of $12.19 and a 52 week high of $20.29. The stock has a market capitalization of $3.73 billion, a P/E ratio of 10.20 and a beta of 1.74.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). Gates Industrial had a net margin of 25.29% and a return on equity of 15.57%. The business had revenue of $804.90 million during the quarter, compared to analyst estimates of $844.21 million. During the same quarter last year, the company posted $0.25 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. On average, analysts predict that Gates Industrial Corp PLC will post 1.18 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its stake in shares of Gates Industrial by 0.9% in the first quarter. Janus Henderson Group PLC now owns 7,613,277 shares of the company’s stock valued at $109,174,000 after acquiring an additional 65,736 shares in the last quarter. Champlain Investment Partners LLC grew its stake in shares of Gates Industrial by 2.8% in the first quarter. Champlain Investment Partners LLC now owns 5,706,660 shares of the company’s stock valued at $81,834,000 after acquiring an additional 157,990 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Gates Industrial by 7.9% in the first quarter. JPMorgan Chase & Co. now owns 4,766,996 shares of the company’s stock valued at $68,359,000 after acquiring an additional 350,823 shares in the last quarter. Neuberger Berman Group LLC grew its stake in shares of Gates Industrial by 4.1% in the first quarter. Neuberger Berman Group LLC now owns 4,147,503 shares of the company’s stock valued at $59,475,000 after acquiring an additional 164,651 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Gates Industrial by 2.2% in the third quarter. Vanguard Group Inc. now owns 3,717,755 shares of the company’s stock valued at $72,497,000 after acquiring an additional 79,008 shares in the last quarter.

Several brokerages have recently weighed in on GTES. Morgan Stanley set a $16.00 price objective on shares of Gates Industrial and gave the company a “hold” rating in a research report on Thursday, February 14th. ValuEngine raised shares of Gates Industrial from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. Zacks Investment Research lowered shares of Gates Industrial from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. TheStreet raised shares of Gates Industrial from a “d+” rating to a “c-” rating in a research report on Thursday, April 11th. Finally, Barclays reissued a “hold” rating and issued a $17.00 price objective on shares of Gates Industrial in a research report on Thursday, May 9th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Gates Industrial has a consensus rating of “Hold” and an average target price of $18.20.

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.

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