Public Employees Retirement System of Ohio Purchases Shares of 77,445 Gates Industrial Corporation PLC $GTES

Public Employees Retirement System of Ohio purchased a new stake in Gates Industrial Corporation PLC (NYSE:GTES) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 77,445 shares of the company’s stock, valued at approximately $2,166,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in shares of Gates Industrial by 24.2% during the 1st quarter. California State Teachers Retirement System now owns 303,123 shares of the company’s stock valued at $6,854,000 after acquiring an additional 58,990 shares during the period. Kennedy Capital Management LLC grew its holdings in Gates Industrial by 6.7% in the fourth quarter. Kennedy Capital Management LLC now owns 1,528,525 shares of the company’s stock worth $32,817,000 after purchasing an additional 96,392 shares during the period. Bank of America Corp DE increased its stake in Gates Industrial by 13.7% in the first quarter. Bank of America Corp DE now owns 1,920,689 shares of the company’s stock valued at $43,427,000 after purchasing an additional 230,836 shares in the last quarter. Renaissance Technologies LLC increased its stake in Gates Industrial by 20.2% in the first quarter. Renaissance Technologies LLC now owns 365,100 shares of the company’s stock valued at $8,255,000 after purchasing an additional 61,400 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Gates Industrial by 3.8% during the first quarter. Janus Henderson Group PLC now owns 5,230,159 shares of the company’s stock valued at $118,252,000 after purchasing an additional 193,896 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was 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 approximately $1,301,940.64. The trade was a 11.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GTES. 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. Robert W. Baird boosted their target price on Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Wall Street Zen raised Gates Industrial from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Citigroup increased their price target on Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, KeyCorp raised their price objective on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average price target of $32.45.

Gates Industrial Stock Up 0.1%

Gates Industrial stock opened at $25.98 on Monday. Gates Industrial Corporation PLC has a 1-year low of $20.88 and a 1-year high of $30.34. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 18.43 and a beta of 1.26. The firm’s fifty day moving average price is $26.86 and its two-hundred day moving average price is $25.86. 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 (NYSE:GTES) last posted its earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $0.39 earnings per share. The firm’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, equities research analysts predict that Gates Industrial Corporation PLC will post 1.57 earnings per share for the current fiscal year.

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.