According to the most recent 13F filing that Strs Ohio has made with the SEC, the investment firm increased its holdings in Gates Industrial Corp PLC (NYSE: GTES) during the third quarter. Strs Ohio disclosed this information. In addition, the investment fund purchased 125,683 shares of the company’s stock at approximately $1,226,000.
In addition, the ownership of GTES held by institutional investors and other hedge funds has either increased or decreased. Raymond James & Associates increased the percentage of Gates Industrial stock owned by 4.6% during the first three months of 2018. Raymond James & Associates now owns a total of 269,329 shares, collectively valued at a sum equal to $4,056,000. This results from the company purchasing an additional 11,792 shares during the period. U.S. Bancorp DE increased the proportion of Gates Industrial stock owned by 8.9 percentage points over the year’s first three months. After purchasing an additional 3,003 shares during the relevant period, U.S. Bancorp DE now has 36,855 shares of the company’s stock, currently valued at $556,000. These shares were acquired during the period in question. Finally, Citigroup Inc. increased the amount of Gates Industrial stock owned by 2,781.5% during the year’s first quarter. Following the successful completion of the acquisition of an additional 223,051 shares throughout the period in question, Citigroup Inc. now directly owns a total of 231,070 shares in the company with a value of $348,000 in the wake of the transaction. PNC Financial Services Group Inc. increased the amount of Gates Industrial stock owned by 221.3% during the first three months of 2018. Following the acquisition of an additional 8,315 shares during the quarter, PNC Financial Services Group Inc. now holds 12,072 shares of the stock issued by PNC Financial Services Group Inc., which have a value of $182,000. Last but certainly not least, during the first quarter, Natixis Advisors L.P. increased the amount of Gates Industrial stock owned by 2.3%. This is far from the case of being the least important item. Natixis Advisors L.P. presently possesses 80,101 shares with a combined market value of $1,260,000. Compared to the number of shares it held at the end of the reporting period before this one, this represents an increase of 1,793 shares.
The performance of GTES’s share price has recently been the subject of commentary from various stock research professionals, each of whom provided their unique perspective on the subject. Barclays lowered their price objective on Gates Industrial from $14.00 to $13.00 in a research report made available to the general public on Monday, October 3rd. In addition, the company gave the business an “equal weight” rating. Citigroup increased their price target for Gates Industrial from $13.00 to $14.00 and gave the company’s stock a “buy” rating in research released on Friday, December 9th. Additionally, the firm upgraded its recommendation to “buy” the stock of Gates Industrial. In addition, they increased the price range they are targeting for the company to be between $10.00 and $11.00. The target price that Goldman Sachs Group has set for Gates Industrial has dropped from $15.00 to $13.00, as stated in a research note published on Friday, October 14th. Despite this, they did not alter the recommendation they had previously given regarding the company, “buy,” to any other classification. Credit Suisse Group upgraded Gates Industrial from a “neutral” rating to an “outperform” rating. It raised its target price on the stock from $13.00 to $14.00 in a research note published on Monday, November 7th. Morgan Stanley rated the company as “equal weight” in a research note made public on October 12th and released on the same day. In addition, the company stated that as a direct result, they had decreased their target price for Gates Industrial from $13.00 to $11.00. Three equity research analysts have provided the stock with a buy rating, while six have provided the stock with a hold recommendation. The current rating for Gates Industrial is “Hold,” and the general price objective for the company is set at $13.28, according to the data provided by Bloomberg.
GTES began trading on Friday at $12.72. The stock’s current price is trading at $11.47, while its simple moving average for the past 200 days is at $11.23. The ratio of the current ratio to the quick ratio is 2.05, while the ratio of the current ratio to the quick ratio is 2.97. The ratio of debt to equity is 0.79. Because the company possesses a beta value of 1.54 and an earnings-to-price ratio of 18.71, the total enterprise value of the business is calculated to be $3.59 billion. Gates Industrial Corp. PLC hit an all-time low of $9.40 during the past year, while the company reached a