Gates Industrial Corporation PLC $GTES Shares Sold by London Co. of Virginia

London Co. of Virginia trimmed its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 3.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,367,486 shares of the company’s stock after selling 44,351 shares during the period. London Co. of Virginia’s holdings in Gates Industrial were worth $30,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Gates Industrial by 20.2% during the 1st quarter. Renaissance Technologies LLC now owns 365,100 shares of the company’s stock worth $8,255,000 after acquiring an additional 61,400 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Gates Industrial by 62.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,251,585 shares of the company’s stock worth $50,908,000 after purchasing an additional 868,734 shares during the last quarter. Lido Advisors LLC boosted its holdings in Gates Industrial by 24.5% in the first quarter. Lido Advisors LLC now owns 17,511 shares of the company’s stock valued at $396,000 after purchasing an additional 3,442 shares in the last quarter. State of Wyoming boosted its holdings in Gates Industrial by 10.4% in the first quarter. State of Wyoming now owns 34,206 shares of the company’s stock valued at $773,000 after purchasing an additional 3,223 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Gates Industrial by 4.6% in the first quarter. Cetera Investment Advisers now owns 54,766 shares of the company’s stock valued at $1,238,000 after purchasing an additional 2,426 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GTES. Morgan Stanley raised their price objective on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Robert W. Baird lowered their target price on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Wall Street Zen downgraded shares of Gates Industrial from a “buy” rating to a “hold” rating in a research report on Saturday. Wolfe Research reiterated an “outperform” rating and set a $33.00 price target on shares of Gates Industrial in a research note on Thursday, July 9th. Finally, Barclays cut their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.36.

Gates Industrial Trading Down 0.5%

NYSE:GTES opened at $26.89 on Friday. The stock’s 50 day moving average price is $26.47 and its 200 day moving average price is $25.25. The company has a market capitalization of $6.83 billion, a PE ratio of 28.01 and a beta of 1.25. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. Gates Industrial Corporation PLC has a 52-week low of $20.88 and a 52-week high of $29.17.

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

Gates Industrial Profile

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.