Handelsbanken Fonder AB Sells 553,100 Shares of Gates Industrial Corporation PLC $GTES

Handelsbanken Fonder AB lessened its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 25.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,629,000 shares of the company’s stock after selling 553,100 shares during the period. Handelsbanken Fonder AB’s holdings in Gates Industrial were worth $34,975,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Gates Industrial by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after acquiring an additional 1,281,339 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Gates Industrial by 5.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock worth $312,578,000 after acquiring an additional 717,353 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Gates Industrial by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,850,516 shares of the company’s stock worth $269,308,000 after purchasing an additional 28,760 shares in the last quarter. Invesco Ltd. increased its holdings in Gates Industrial by 3.0% in the 3rd quarter. Invesco Ltd. now owns 7,861,494 shares of the company’s stock worth $195,122,000 after purchasing an additional 226,075 shares in the last quarter. Finally, State Street Corp raised its position in Gates Industrial by 2.4% in the second quarter. State Street Corp now owns 7,346,884 shares of the company’s stock valued at $169,199,000 after purchasing an additional 170,597 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Trading Down 3.0%

NYSE GTES opened at $23.38 on Wednesday. The business has a 50 day simple moving average of $24.21 and a 200 day simple moving average of $23.70. Gates Industrial Corporation PLC has a one year low of $20.39 and a one year high of $28.47. The stock has a market capitalization of $5.93 billion, a P/E ratio of 24.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. Barclays decreased their price objective on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. UBS Group reaffirmed a “buy” rating and set a $33.00 target price on shares of Gates Industrial in a research report on Friday, February 13th. Finally, Morgan Stanley lifted their target price on Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 11th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.18.

About Gates Industrial

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.