Crossmark Global Holdings Inc. Lowers Holdings in Gates Industrial Corp PLC (NYSE:GTES)

Crossmark Global Holdings Inc. reduced its holdings in shares of Gates Industrial Corp PLC (NYSE:GTES) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,179 shares of the company’s stock after selling 2,900 shares during the period. Crossmark Global Holdings Inc.’s holdings in Gates Industrial were worth $1,032,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GTES. Versant Capital Management Inc increased its stake in shares of Gates Industrial by 178.3% during the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock worth $51,000 after buying an additional 1,598 shares during the period. Venturi Wealth Management LLC grew its holdings in Gates Industrial by 35.9% during the 3rd 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. Capital Performance Advisors LLP purchased a new stake in shares of Gates Industrial in the 3rd quarter valued at approximately $67,000. GAMMA Investing LLC raised its holdings in shares of Gates Industrial by 333.9% in the 3rd quarter. GAMMA Investing LLC now owns 3,896 shares of the company’s stock valued at $68,000 after purchasing an additional 2,998 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Gates Industrial in the 3rd quarter valued at $71,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group increased their target price on Gates Industrial from $23.00 to $26.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup dropped their price objective on Gates Industrial from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, January 13th. KeyCorp boosted their target price on Gates Industrial from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada increased 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. Finally, The Goldman Sachs Group boosted their price objective on shares of Gates Industrial from $21.00 to $24.00 and gave the stock a “neutral” 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. Based on data from MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Gates Industrial Stock Down 0.1 %

Shares of NYSE:GTES opened at $20.77 on Friday. Gates Industrial Corp PLC has a 1-year low of $12.40 and a 1-year 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. The stock has a market cap of $5.29 billion, a P/E ratio of 25.02 and a beta of 1.38. The firm has a fifty day moving average price of $21.18 and a 200 day moving average price of $18.97.

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.