Royal Bank of Canada Trims Position in Gates Industrial Corporation PLC $GTES

Royal Bank of Canada cut its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 22.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 489,492 shares of the company’s stock after selling 141,031 shares during the period. Royal Bank of Canada owned 0.19% of Gates Industrial worth $11,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Gates Industrial by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock worth $261,040,000 after acquiring an additional 295,706 shares during the period. JPMorgan Chase & Co. lifted its stake in Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock worth $179,775,000 after purchasing an additional 4,158,341 shares in the last quarter. Invesco Ltd. boosted its holdings in Gates Industrial by 5.9% in the 4th quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after purchasing an additional 461,160 shares during the period. State Street Corp boosted its holdings in Gates Industrial by 3.0% in the 4th quarter. State Street Corp now owns 7,971,572 shares of the company’s stock valued at $171,150,000 after purchasing an additional 232,447 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Gates Industrial by 5.5% in the 4th quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock valued at $156,840,000 after purchasing an additional 381,896 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

NYSE:GTES opened at $28.31 on Friday. The business has a 50 day moving average of $27.07 and a 200 day moving average of $25.61. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 20.08 and a beta of 1.25. Gates Industrial Corporation PLC has a 1-year low of $20.88 and a 1-year high of $30.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36.

Gates Industrial (NYSE:GTES) last issued its earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The business had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Gates Industrial’s revenue for the quarter was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, sell-side analysts predict that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GTES has been the topic of several research analyst reports. Wall Street Zen raised shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a report on Saturday. JPMorgan Chase & Co. lifted their price objective on Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Morgan Stanley boosted their target price on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. Finally, KeyCorp upped their target price on Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Activity

In other news, Director Peifang Zhang sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the completion of the sale, the director owned 44,044 shares of the company’s stock, valued at approximately $1,301,940.64. This represents a 11.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.80% of the company’s stock.

Gates Industrial Company 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.