Gates Industrial Corporation PLC $GTES Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 25.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633,255 shares of the company’s stock after selling 213,145 shares during the quarter. Handelsbanken Fonder AB owned 0.25% of Gates Industrial worth $17,712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in Gates Industrial during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC increased its position in shares of Gates Industrial by 51.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after buying an additional 539 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of 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 buying an additional 514 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after buying an additional 694 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Gates Industrial by 273.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after buying an additional 2,131 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on GTES shares. Morgan Stanley raised their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Citigroup upped their price target on shares of Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Wolfe Research reissued an “outperform” rating and set a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. Robert W. Baird lifted their price objective on Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised Gates Industrial from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Gates Industrial Stock Performance

NYSE GTES opened at $27.89 on Thursday. The business’s 50-day moving average price is $27.19 and its 200 day moving average price is $25.73. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58. Gates Industrial Corporation PLC has a twelve month low of $20.88 and a twelve month high of $30.34. The company has a market capitalization of $7.06 billion, a PE ratio of 19.78 and a beta of 1.25.

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

Insider Activity

In other news, Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the completion of the sale, the director directly owned 44,044 shares of the company’s stock, valued at $1,301,940.64. The trade was a 11.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.80% of the stock is owned by corporate insiders.

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.