Director Wilson Neely has recently increased his stake in Gates Industrial Corp PLC (GTES, Financial) by purchasing 50,000 shares of the company's stock, as indicated by a SEC Filing dated February 28, 2024. This transaction has expanded the insider's holdings, contributing to a total of 60,000 shares bought over the past year, with no recorded sales of the company's stock by the insider during this period.
Gates Industrial Corp PLC is a global manufacturer of innovative, highly engineered power transmission and fluid power solutions. The company serves various end markets, including construction, agriculture, energy, automotive, and consumer applications.
The insider transaction history for Gates Industrial Corp PLC reveals a pattern of insider activity over the past year, with 6 insider buys and 11 insider sells. This recent acquisition by Director Wilson Neely may be of interest to investors monitoring insider behaviors.
On the day of the transaction, Gates Industrial Corp PLC shares were trading at $14.55, valuing the company at a market cap of $3,857.585 million. The price-earnings ratio of the company stood at 17.32, which is below the industry median of 22.12, and above the historical median price-earnings ratio for the company.
The stock's valuation, when compared to the GuruFocus Value (GF Value) of $14.13, results in a price-to-GF-Value ratio of 1.03. This suggests that Gates Industrial Corp PLC is Fairly Valued in the market, according to the GF Value metric.
The GF Value is determined by considering historical trading multiples, a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates provided by Morningstar analysts.
Investors often look to insider buying as a positive signal that company executives and directors may have a bullish outlook on the stock's future performance. The recent purchase by Director Wilson Neely could be interpreted as such a signal, indicating potential confidence in the future prospects of Gates Industrial Corp PLC.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
