Gates Industrial Corporation PLC $GTES Shares Bought by Granahan Investment Management LLC

Granahan Investment Management LLC increased its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 22.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 834,723 shares of the company’s stock after purchasing an additional 152,413 shares during the quarter. Granahan Investment Management LLC’s holdings in Gates Industrial were worth $17,922,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. New York State Teachers Retirement System increased its position 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 purchasing an additional 479 shares in the last quarter. Xponance LLC increased its position in Gates Industrial by 3.7% during the 4th quarter. Xponance LLC now owns 13,792 shares of the company’s stock worth $296,000 after purchasing an additional 486 shares in the last quarter. Glenmede Investment Management LP increased its position in Gates Industrial by 0.9% during the 3rd quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock worth $1,366,000 after purchasing an additional 514 shares in the last quarter. Lido Advisors LLC increased its position in Gates Industrial by 3.8% during the 4th quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock worth $302,000 after purchasing an additional 521 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its position in Gates Industrial by 51.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

GTES has been the subject of a number of research analyst reports. Robert W. Baird dropped their target price on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Weiss Ratings downgraded shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Morgan Stanley increased their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Barclays dropped their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Gates Industrial Stock Up 1.3%

Shares of NYSE:GTES opened at $27.70 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. Gates Industrial Corporation PLC has a 52-week low of $20.88 and a 52-week high of $28.47. The company has a 50 day moving average of $25.43 and a two-hundred day moving average of $24.25. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 28.86 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data 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 company had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. During the same quarter last year, the company earned $0.36 earnings per share. Gates Industrial’s revenue for the quarter was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts forecast that Gates Industrial Corporation PLC will post 1.54 earnings per share 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.