MML Investors Services LLC Purchases 8,301 Shares of Gates Industrial Corp PLC (NYSE:GTES)

MML Investors Services LLC lifted its position in shares of Gates Industrial Corp PLC (NYSE:GTES) by 10.9% during the third quarter, HoldingsChannel reports. The firm owned 84,684 shares of the company’s stock after buying an additional 8,301 shares during the quarter. MML Investors Services LLC’s holdings in Gates Industrial were worth $1,486,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC boosted its position in shares of Gates Industrial by 341.1% during the second quarter. Headlands Technologies LLC now owns 1,707 shares of the company’s stock worth $27,000 after purchasing an additional 1,320 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Gates Industrial by 35.9% during the third quarter. Venturi Wealth Management LLC now owns 3,079 shares of the company’s stock worth $54,000 after acquiring an additional 814 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Gates Industrial during the third quarter worth $67,000. GAMMA Investing LLC raised its holdings in shares of Gates Industrial by 333.9% during the third quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock worth $68,000 after acquiring an additional 2,998 shares during the period. Finally, Quarry LP acquired a new stake in shares of Gates Industrial during the third quarter worth $71,000. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, December 6th. 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, December 5th. Citigroup raised their price objective on shares of Gates Industrial from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, December 9th. The Goldman Sachs Group lifted their price target on shares of Gates Industrial from $21.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Royal Bank of Canada lifted their price target on shares of Gates Industrial from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

Gates Industrial Stock Down 4.4 %

Gates Industrial stock opened at $20.83 on Thursday. The firm has a market capitalization of $5.31 billion, a PE ratio of 25.10 and a beta of 1.38. The company’s 50-day moving average is $20.47 and its 200-day moving average is $18.15. Gates Industrial Corp PLC has a fifty-two week low of $12.40 and a fifty-two week high of $23.34. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.02 and a quick ratio of 2.11.

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.