Campbell & CO Investment Adviser LLC Trims Holdings in Gates Industrial Corporation PLC $GTES

Campbell & CO Investment Adviser LLC lessened its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 66.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,233 shares of the company’s stock after selling 28,078 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in Gates Industrial were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GTES. Norges Bank purchased a new position in Gates Industrial during the 2nd quarter valued at about $80,713,000. Adage Capital Partners GP L.L.C. acquired a new stake in Gates Industrial during the 2nd quarter worth about $32,255,000. Voya Investment Management LLC boosted its position in Gates Industrial by 751.7% in the third quarter. Voya Investment Management LLC now owns 1,137,088 shares of the company’s stock valued at $28,223,000 after buying an additional 1,003,580 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Gates Industrial by 17.1% in the second quarter. Franklin Resources Inc. now owns 5,661,320 shares of the company’s stock worth $130,380,000 after acquiring an additional 826,249 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in Gates Industrial by 69.8% in the second quarter. Quantinno Capital Management LP now owns 1,228,675 shares of the company’s stock valued at $28,296,000 after purchasing an additional 504,895 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Lawrence B. Mallard sold 22,188 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $22.77, for a total transaction of $505,220.76. Following the transaction, the chief financial officer directly owned 177,627 shares of the company’s stock, valued at approximately $4,044,566.79. The trade was a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GTES shares. Citigroup reaffirmed a “buy” rating on shares of Gates Industrial in a report on Monday, January 12th. Wells Fargo & Company assumed coverage on Gates Industrial in a report on Thursday, November 13th. They set an “equal weight” rating and a $23.00 price target on the stock. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 10th. JPMorgan Chase & Co. dropped their target price on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Finally, UBS Group reduced their price target on shares of Gates Industrial from $29.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.09.

Gates Industrial Stock Down 3.3%

Shares of NYSE GTES opened at $23.07 on Friday. The firm has a market cap of $5.96 billion, a P/E ratio of 25.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.50 and a current ratio of 3.52. Gates Industrial Corporation PLC has a 1 year low of $14.70 and a 1 year high of $26.46. The firm’s 50 day moving average price is $22.17 and its 200 day moving average price is $23.80.

Gates Industrial Profile

Gates Industrial Corporation PLC (NYSE: GTES) is a leading global manufacturer of engineered power transmission belts and fluid power products. The company’s portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.