Victory Capital Management Inc. Increases Stock Position in Gates Industrial Corporation PLC $GTES

Victory Capital Management Inc. boosted its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 1.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,154,140 shares of the company’s stock after acquiring an additional 44,987 shares during the period. Victory Capital Management Inc.’s holdings in Gates Industrial were worth $78,286,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in GTES. Vanguard Group Inc. grew its stake in shares of Gates Industrial by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after acquiring an additional 1,281,339 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Gates Industrial by 3.1% in the second quarter. Invesco Ltd. now owns 7,635,419 shares of the company’s stock worth $175,844,000 after acquiring an additional 226,578 shares in the last quarter. State Street Corp boosted its holdings in Gates Industrial by 2.4% in the second quarter. State Street Corp now owns 7,346,884 shares of the company’s stock valued at $169,199,000 after purchasing an additional 170,597 shares during the last quarter. American Century Companies Inc. grew its stake in Gates Industrial by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 6,461,861 shares of the company’s stock valued at $148,817,000 after purchasing an additional 261,429 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Gates Industrial by 17.1% during the 2nd quarter. Franklin Resources Inc. now owns 5,661,320 shares of the company’s stock worth $130,380,000 after purchasing an additional 826,249 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GTES. Wall Street Zen upgraded Gates Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, December 29th. Barclays boosted their target price on shares of Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Finally, Robert W. Baird set a $39.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.27.

Gates Industrial Stock Performance

Gates Industrial stock opened at $25.43 on Friday. The company has a market cap of $6.46 billion, a PE ratio of 26.22 and a beta of 1.23. The company has a fifty day moving average price of $24.61 and a two-hundred day moving average price of $24.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $28.47.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company had revenue of $856.20 million for the quarter, compared to analysts’ expectations of $853.35 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Research analysts expect that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

About Gates Industrial

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.