Vanguard Group Inc. Sells 250,071 Shares of Gates Industrial Corporation PLC $GTES

Vanguard Group Inc. trimmed its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,503,294 shares of the company’s stock after selling 250,071 shares during the quarter. Vanguard Group Inc. owned 0.10% of Gates Industrial worth $569,026,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Empowered Funds LLC bought a new position in Gates Industrial in the 1st quarter valued at about $381,000. Creative Planning increased its holdings in Gates Industrial by 53.9% in the 2nd quarter. Creative Planning now owns 15,435 shares of the company’s stock valued at $355,000 after buying an additional 5,404 shares during the period. Prudential Financial Inc. increased its holdings in Gates Industrial by 52.7% in the 2nd quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after buying an additional 6,190 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Gates Industrial by 273.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after buying an additional 2,131 shares during the period. Finally, M&T Bank Corp increased its holdings in Gates Industrial by 8.6% in the 2nd quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after buying an additional 937 shares during the period. 98.50% of the stock is owned by institutional investors.

Gates Industrial Trading Up 2.6%

GTES opened at $24.69 on Tuesday. The company’s 50 day moving average is $24.57 and its 200-day moving average is $23.73. Gates Industrial Corporation PLC has a 1-year low of $19.56 and a 1-year high of $28.47. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.29 billion, a P/E ratio of 25.72 and a beta of 1.28.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The company had revenue of $851.10 million for the quarter, compared to the consensus estimate of $859.72 million. During the same period last year, the company posted $0.36 EPS. The firm’s quarterly 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. Equities research analysts predict that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group reissued a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Weiss Ratings lowered shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Citigroup raised their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Wall Street Zen raised shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.18.

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.