Dean Investment Associates LLC Has $2.12 Million Position in Gates Industrial Corp PLC (NYSE:GTES)

Dean Investment Associates LLC lowered its stake in Gates Industrial Corp PLC (NYSE:GTES) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,865 shares of the company’s stock after selling 3,997 shares during the period. Dean Investment Associates LLC’s holdings in Gates Industrial were worth $2,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Headlands Technologies LLC increased its holdings in shares of Gates Industrial by 341.1% in the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock valued at $27,000 after purchasing an additional 1,320 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Gates Industrial by 35.9% in the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock valued at $54,000 after acquiring an additional 814 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Gates Industrial in the third quarter valued at approximately $67,000. GAMMA Investing LLC boosted its stake in Gates Industrial by 333.9% in the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after acquiring an additional 2,998 shares during the last quarter. Finally, Quarry LP bought a new position in Gates Industrial in the third quarter valued at approximately $71,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

GTES has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Gates Industrial in a research report on Friday, September 6th. They set an “equal weight” rating and a $19.00 price target on the stock. Jefferies Financial Group lifted their price target on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp lifted their price target on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Barclays upgraded shares of Gates Industrial from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $25.00 in a report on Thursday. Finally, Royal Bank of Canada upgraded shares of Gates Industrial from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $22.00 in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.30.

Gates Industrial Stock Down 1.3 %

Shares of GTES stock opened at $22.64 on Monday. The firm has a market capitalization of $5.77 billion, a P/E ratio of 27.28 and a beta of 1.38. The firm’s fifty day moving average price is $19.82 and its two-hundred day moving average price is $17.92. Gates Industrial Corp PLC has a 1 year low of $11.22 and a 1 year high of $23.34. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70.

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.