Gates Industrial Corporation PLC $GTES Shares Sold by EVR Research LP

EVR Research LP trimmed its position in Gates Industrial Corporation PLC (NYSE:GTES) by 91.3% during the third quarter, HoldingsChannel.com reports. The firm owned 50,000 shares of the company’s stock after selling 525,000 shares during the quarter. Gates Industrial comprises 0.7% of EVR Research LP’s investment portfolio, making the stock its 23rd biggest position. EVR Research LP’s holdings in Gates Industrial were worth $1,241,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of GTES. True Wealth Design LLC grew its holdings in shares of Gates Industrial by 133.2% during the 3rd quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock worth $29,000 after purchasing an additional 666 shares during the period. Allworth Financial LP raised its holdings in Gates Industrial by 43.0% in the second quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock valued at $48,000 after buying an additional 630 shares during the period. SJS Investment Consulting Inc. lifted its position in Gates Industrial by 5,123.7% during the third quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after buying an additional 1,947 shares in the last quarter. Quent Capital LLC acquired a new position in Gates Industrial during the third quarter valued at approximately $51,000. Finally, Avanza Fonder AB grew its stake in Gates Industrial by 85.3% during the third quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock worth $61,000 after buying an additional 1,124 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

GTES opened at $23.17 on Friday. The company has a fifty day simple moving average of $24.83 and a 200 day simple moving average of $24.11. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 23.89 and a beta of 1.23. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $28.47. The company has a current ratio of 3.37, a quick ratio of 2.42 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities research analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GTES. Wells Fargo & Company initiated coverage on shares of Gates Industrial in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $23.00 target price on the stock. Barclays increased their price target on Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Morgan Stanley raised their price objective on Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday. Royal Bank Of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. Finally, UBS Group reiterated a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.73.

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.