Strs Ohio Sells 83,909 Shares of Gates Industrial Corporation PLC $GTES

Strs Ohio cut its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 23.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 276,265 shares of the company’s stock after selling 83,909 shares during the quarter. Strs Ohio’s holdings in Gates Industrial were worth $6,246,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GTES. New York State Teachers Retirement System raised its holdings in Gates Industrial by 0.6% during the 4th quarter. New York State Teachers Retirement System now owns 85,748 shares of the company’s stock worth $1,841,000 after buying an additional 479 shares during the period. Xponance LLC boosted its holdings in shares of Gates Industrial by 3.7% in the fourth quarter. Xponance LLC now owns 13,792 shares of the company’s stock valued at $296,000 after buying an additional 486 shares during the period. Glenmede Investment Management LP increased its position in shares of Gates Industrial by 0.9% during the third quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock worth $1,366,000 after acquiring an additional 514 shares in the last quarter. Lido Advisors LLC increased its position in shares of Gates Industrial by 3.8% during the fourth quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock worth $302,000 after acquiring an additional 521 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after acquiring an additional 539 shares during the period. 98.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GTES shares. Robert W. Baird cut their price objective on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Morgan Stanley lifted their price target on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Barclays cut their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Finally, Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Gates Industrial Stock Performance

Shares of GTES opened at $26.73 on Monday. Gates Industrial Corporation PLC has a 12 month low of $20.88 and a 12 month high of $29.17. The firm has a fifty day simple moving average of $26.16 and a 200 day simple moving average of $24.77. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 27.84 and a beta of 1.25. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period in the previous year, the business earned $0.36 EPS. The company’s revenue was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Research analysts forecast that Gates Industrial Corporation PLC will post 1.55 EPS for the current fiscal year.

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.