Gates Industrial Corporation PLC $GTES Shares Acquired by Strs Ohio

Strs Ohio lifted its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 495,119 shares of the company’s stock after buying an additional 10,828 shares during the quarter. Strs Ohio’s holdings in Gates Industrial were worth $11,403,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Gates Industrial during the 1st quarter worth approximately $34,000. Steph & Co. acquired a new position in shares of Gates Industrial during the second quarter worth $70,000. Aaron Wealth Advisors LLC acquired a new position in shares of Gates Industrial during the second quarter worth $205,000. GAMMA Investing LLC grew its stake in shares of Gates Industrial by 81.0% during the first quarter. GAMMA Investing LLC now owns 9,099 shares of the company’s stock worth $168,000 after purchasing an additional 4,073 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Gates Industrial during the 2nd quarter worth about $219,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

GTES has been the subject of several analyst reports. Zacks Research cut Gates Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. UBS Group upped their price target on Gates Industrial from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their target price on shares of Gates Industrial from $29.00 to $26.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 4th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.64.

Gates Industrial Stock Up 0.6%

Shares of NYSE GTES opened at $21.99 on Friday. The stock has a market cap of $5.68 billion, a PE ratio of 24.17 and a beta of 1.25. Gates Industrial Corporation PLC has a 52-week low of $14.70 and a 52-week high of $26.46. The business has a 50-day moving average price of $25.28 and a 200 day moving average price of $23.34. The company has a quick ratio of 2.46, a current ratio of 3.52 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $855.70 million during the quarter, compared to the consensus estimate of $860.95 million. Gates Industrial had a return on equity of 10.38% and a net margin of 6.93%.The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. Equities research analysts forecast that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.