Van Berkom & Associates Inc. Sells 97,397 Shares of Gates Industrial Corporation PLC $GTES

Van Berkom & Associates Inc. trimmed its position in Gates Industrial Corporation PLC (NYSE:GTES) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,098,425 shares of the company’s stock after selling 97,397 shares during the quarter. Gates Industrial comprises approximately 2.3% of Van Berkom & Associates Inc.’s holdings, making the stock its 23rd largest position. Van Berkom & Associates Inc.’s holdings in Gates Industrial were worth $70,055,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New York State Teachers Retirement System grew its stake in Gates Industrial by 0.6% in the 4th quarter. New York State Teachers Retirement System now owns 85,748 shares of the company’s stock valued at $1,841,000 after buying an additional 479 shares during the last quarter. Xponance LLC lifted its position in Gates Industrial by 3.7% during the 4th quarter. Xponance LLC now owns 13,792 shares of the company’s stock worth $296,000 after acquiring an additional 486 shares during the last quarter. Fifth Third Bancorp lifted its position in Gates Industrial by 46.3% during the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after acquiring an additional 514 shares during the last quarter. Glenmede Investment Management LP boosted its holdings in Gates Industrial by 0.9% during the third quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock valued at $1,366,000 after acquiring an additional 514 shares during the period. Finally, Lido Advisors LLC boosted its holdings in Gates Industrial by 3.8% during the fourth quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock valued at $302,000 after acquiring an additional 521 shares during the period. 98.50% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on GTES shares. Royal Bank Of Canada raised their price target on Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Thursday. Wolfe Research reissued an “outperform” rating and set a $33.00 price objective on shares of Gates Industrial in a research report on Thursday, July 9th. Morgan Stanley increased their target price on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Robert W. Baird lowered their target price on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Finally, Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.36.

Gates Industrial Price Performance

NYSE:GTES opened at $26.60 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66. Gates Industrial Corporation PLC has a one year low of $20.88 and a one year high of $29.17. The company has a fifty day moving average price of $26.33 and a 200 day moving average price of $25.09. The stock has a market cap of $6.76 billion, a P/E ratio of 27.71 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The company had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period last year, the business posted $0.36 EPS. The business’s quarterly revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts anticipate that Gates Industrial Corporation PLC will post 1.53 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.