<div id="readability-page-1"><p>Confluence Investment Management LLC trimmed its position in  Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 86.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 130,719 shares of the company's stock after selling 852,207 shares during the period. Confluence Investment Management LLC owned about 0.05% of Gates Industrial worth $3,244,000 as of its most recent SEC filing.</p><div><p><span></span><span>Get <strong>Gates Industrial</strong> alerts:</span></p></div><p>A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of  Gates Industrial in the second quarter worth approximately $80,713,000.  Driehaus Capital Management LLC increased its holdings in  Gates Industrial by 4,976.3% during the first quarter. Driehaus Capital Management LLC now owns 1,606,345 shares of the company's stock valued at $29,573,000 after buying an additional 1,574,701 shares during the last quarter.  Adage Capital Partners GP L.L.C. bought a new position in  Gates Industrial in the second quarter worth approximately $32,255,000.  Voya Investment Management LLC boosted its stake in shares of  Gates Industrial by 751.7% during the 3rd quarter. Voya Investment Management LLC now owns 1,137,088 shares of the company's stock worth $28,223,000 after acquiring an additional 1,003,580 shares during the last quarter.  Finally, Shellback Capital LP purchased a new position in shares of  Gates Industrial during the 1st quarter worth $16,906,000. 98.50% of the stock is currently owned by institutional investors. </p><h2>Insider Activity at Gates Industrial</h2><p>In related news, CFO Lawrence B. Mallard sold 22,188 shares of the company'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 completion of the transaction, the chief financial officer owned 177,627 shares in the company, valued at approximately $4,044,566.79. This represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities &amp; Exchange Commission, which can be accessed through this hyperlink. Company insiders own  2.70% of the company's stock. </p><h2>Analyst Upgrades and Downgrades</h2><p>Several research firms have recently commented on GTES. Citigroup reduced their price objective on Gates Industrial from $31.00 to $28.00 and set a &#34;buy&#34; rating for the company in a research note on Thursday, October 30th. UBS Group reduced their price target on Gates Industrial from $30.00 to $29.00 and set a &#34;buy&#34; rating for the company in a research report on Thursday, November 6th. Royal Bank Of Canada lowered their price objective on Gates Industrial from $29.00 to $26.00 and set an &#34;outperform&#34; rating on the stock in a research report on Thursday, October 30th. Wells Fargo &amp; Company initiated coverage on Gates Industrial in a research note on Thursday, November 13th. They set an &#34;equal weight&#34; rating and a $23.00 price objective for the company. Finally, Zacks Research lowered shares of Gates Industrial from a &#34;strong-buy&#34; rating to a &#34;hold&#34; rating in a report on Monday, October 13th. Six equities research analysts have rated the stock with a Buy rating and six have assigned  a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of &#34;Moderate Buy&#34; and a consensus price target of $27.18.</p><p><b>Read Our Latest Stock Report on GTES</b></p><h2>Gates Industrial Stock Performance</h2><p>NYSE:GTES opened at $22.18 on Wednesday. The stock has a 50-day moving average price of $22.77 and a 200 day moving average price of $23.85. The stock has a market capitalization of $5.73 billion, a P/E ratio of 24.37 and a beta of 1.22. Gates Industrial Corporation PLC has a 12-month low of $14.70 and a 12-month high of $26.46. The company has a current ratio of 3.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.61. </p><h2>Gates Industrial Company Profile</h2> (Free Report)<p>Gates Industrial Corporation PLC <span>NYSE: GTES<span></span></span> 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.  </p><p>In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.</p><h2>See Also</h2><ul><li>Five stocks we like better than Gates Industrial</li><li>The boring AI play that could pay up to $4,290 monthly</li><li>Trump’s “real estate deal for America” explained</li><li>A month before the crash</li><li>Put $1,000 into this stock by Jan 1 [Not NVDA]</li><li>Trump Did WHAT??</li></ul><p><strong>Want to see what other hedge funds are holding GTES?</strong> Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gates Industrial Corporation PLC (NYSE:GTES - Free Report).</p><p><img src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUdURVM?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="650" height="350" original-src="https://imageproxy.pbkrs.com/https://www.marketbeat.com/scripts/SECFilingChart.ashx/query-UHJlZml4PU5ZU0UmU3ltYm9sPUdURVM"/></p><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Gates Industrial Right Now?</h2><p>Before you consider Gates Industrial, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gates Industrial wasn't on the list.</p><p>While Gates Industrial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

GTES

<p>Confluence Investment Management LLC reduced its stake in Gates Industrial Corporation PLC by 86.7% in the 3rd quarter, selling 852,207 shares. The fund now owns 130,719 shares worth $3,244,000. Other large investors also adjusted their positions in the company. Analysts have mixed ratings on GTES, with a consensus rating of 'Moderate Buy' and a consensus price target of $27.18.</p>

Confluence Investment Management LLC Sells 852,207 Shares of Gates Industrial Corporation PLC $GTES