New York State Common Retirement Fund Sells 10,700 Shares of Gates Industrial Corp PLC (NYSE:GTES)

New York State Common Retirement Fund cut its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 13.1% in the first quarter, HoldingsChannel reports. The firm owned 70,800 shares of the company’s stock after selling 10,700 shares during the period. New York State Common Retirement Fund’s holdings in Gates Industrial were worth $1,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Stone Ridge Asset Management LLC raised its stake in shares of Gates Industrial by 51.9% in the 4th quarter. Stone Ridge Asset Management LLC now owns 55,137 shares of the company’s stock valued at $730,000 after acquiring an additional 18,835 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Gates Industrial by 61.3% in the 1st quarter. Bank of Montreal Can now owns 22,022 shares of the company’s stock valued at $315,000 after acquiring an additional 8,372 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Gates Industrial in the 1st quarter valued at approximately $615,000. Barclays PLC raised its stake in shares of Gates Industrial by 112.0% in the 4th quarter. Barclays PLC now owns 27,600 shares of the company’s stock valued at $366,000 after acquiring an additional 14,581 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Gates Industrial by 143.8% in the 4th quarter. Millennium Management LLC now owns 258,057 shares of the company’s stock valued at $3,417,000 after acquiring an additional 152,221 shares in the last quarter.

Shares of NYSE GTES opened at $10.87 on Friday. The company has a current ratio of 2.86, a quick ratio of 1.99 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 8.43 and a beta of 2.09. Gates Industrial Corp PLC has a 12 month low of $10.70 and a 12 month high of $20.29.

Gates Industrial (NYSE:GTES) last issued 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). The business had revenue of $804.90 million during the quarter, compared to the consensus estimate of $844.21 million. Gates Industrial had a return on equity of 15.57% and a net margin of 25.29%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, research analysts forecast that Gates Industrial Corp PLC will post 1.18 earnings per share for the current fiscal year.

GTES has been the topic of a number of recent analyst reports. ValuEngine raised Gates Industrial from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Barclays reissued a “hold” rating and issued a $17.00 price objective on shares of Gates Industrial in a research note on Thursday, May 9th. Finally, TheStreet raised Gates Industrial from a “d+” rating to a “c-” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.40.

In other Gates Industrial news, EVP Grant Gawronski purchased 5,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $13.08 per share, with a total value of $65,400.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Walter Lifsey purchased 76,050 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $13.08 per share, for a total transaction of $994,734.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 82,050 shares of company stock worth $1,073,474. Company insiders own 0.68% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Gates Industrial (NYSE:GTES)

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