Gates Industrial Corporation PLC $GTES Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 708.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 257,930 shares of the company’s stock after acquiring an additional 226,012 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Gates Industrial were worth $5,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Gates Industrial by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock worth $312,578,000 after purchasing an additional 717,353 shares during the last quarter. Paradice Investment Management LLC raised its holdings in Gates Industrial by 8.1% in the 4th quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock worth $27,746,000 after purchasing an additional 97,382 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Gates Industrial in the third quarter valued at approximately $1,191,000. Penn Capital Management Company LLC acquired a new position in shares of Gates Industrial during the 3rd quarter worth approximately $15,162,000. Finally, Franklin Resources Inc. raised its stake in shares of Gates Industrial by 22.3% during the 3rd quarter. Franklin Resources Inc. now owns 6,923,169 shares of the company’s stock worth $171,833,000 after buying an additional 1,261,849 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Trading Up 0.1%

GTES opened at $26.73 on Friday. The business has a fifty day moving average price of $26.16 and a 200 day moving average price of $24.75. 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 Corporation PLC has a 12 month low of $20.88 and a 12 month high of $29.17. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 27.84 and a beta of 1.25.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Barclays decreased their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Robert W. Baird reduced their price objective on 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 boosted their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.