Public Employees Retirement System of Ohio Has $1.35 Million Stock Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Public Employees Retirement System of Ohio lessened its stake in Gates Industrial Corp PLC (NYSE:GTES) by 4.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 77,013 shares of the company’s stock after selling 3,847 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Gates Industrial were worth $1,352,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GTES. Venturi Wealth Management LLC grew its position in Gates Industrial by 35.9% in 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 in the last quarter. Bank of Montreal Can grew its position in Gates Industrial by 2.5% in the second quarter. Bank of Montreal Can now owns 33,800 shares of the company’s stock worth $535,000 after acquiring an additional 823 shares in the last quarter. Covestor Ltd grew its position in Gates Industrial by 26.3% in the third quarter. Covestor Ltd now owns 4,812 shares of the company’s stock worth $84,000 after acquiring an additional 1,001 shares in the last quarter. Tectonic Advisors LLC grew its position in Gates Industrial by 5.5% in the third quarter. Tectonic Advisors LLC now owns 20,128 shares of the company’s stock worth $353,000 after acquiring an additional 1,043 shares in the last quarter. Finally, Fort L.P. grew its position in Gates Industrial by 9.3% in the third quarter. Fort L.P. now owns 14,423 shares of the company’s stock worth $253,000 after acquiring an additional 1,222 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Jefferies Financial Group boosted their target price on shares of Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Citigroup upped 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. KeyCorp upped their price objective on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group upped their price objective on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Finally, Barclays raised shares of Gates Industrial from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $25.00 in a report on Thursday, December 5th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.80.

Gates Industrial Trading Down 4.4 %

Shares of GTES stock opened at $20.83 on Thursday. Gates Industrial Corp PLC has a 52-week low of $12.40 and a 52-week high of $23.34. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 25.10 and a beta of 1.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.11 and a current ratio of 3.02. The firm has a fifty day moving average of $20.47 and a 200-day moving average of $18.15.

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.