Kera Capital Partners Inc. Buys New Shares in Gates Industrial Corp PLC (NYSE:GTES)

Kera Capital Partners Inc. purchased a new stake in shares of Gates Industrial Corp PLC (NYSE:GTES) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,986 shares of the company’s stock, valued at approximately $205,000.

Other large investors have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Gates Industrial in the second quarter valued at $1,701,000. Envestnet Asset Management Inc. increased its holdings in Gates Industrial by 102.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,222,241 shares of the company’s stock valued at $19,324,000 after buying an additional 619,670 shares during the period. Renaissance Technologies LLC raised its stake in shares of Gates Industrial by 27.6% in the 2nd quarter. Renaissance Technologies LLC now owns 677,700 shares of the company’s stock valued at $10,714,000 after buying an additional 146,500 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Gates Industrial by 48.4% during the 2nd quarter. Amalgamated Bank now owns 35,996 shares of the company’s stock worth $569,000 after acquiring an additional 11,732 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Gates Industrial during the 2nd quarter valued at about $227,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays raised shares of Gates Industrial from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $25.00 in a research report on Thursday, December 5th. Jefferies Financial Group raised their target price on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp upped their price target on Gates Industrial from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada increased their target price on shares of Gates Industrial from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Gates Industrial presently has an average rating of “Moderate Buy” and an average price target of $22.50.

Gates Industrial Price Performance

NYSE:GTES opened at $20.49 on Monday. The company has a current ratio of 3.02, a quick ratio of 2.11 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $21.20 and a 200 day simple moving average of $18.84. Gates Industrial Corp PLC has a 1-year low of $12.40 and a 1-year high of $23.34. The stock has a market capitalization of $5.22 billion, a PE ratio of 24.68 and a beta of 1.38.

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.