Public Employees Retirement System Invests Heavily in Gates Industrial

The Public Employees Retirement System of Ohio has made a new investment in Gates Industrial Corporation PLC (NYSE:GTES), purchasing 77,445 shares of the company's stock valued at approximately $2,166,000.

This is not the only institutional investor to increase their holdings in GTES; Dimensional Fund Advisors LP grew its holdings by 2.6% during the first quarter and JPMorgan Chase & Co. raised its holdings by 98.7% in the fourth quarter.

GTES has a market capitalization of $6.58 billion, with analysts setting an average price target of $32.45.