Maverick Capital Ltd. Takes Position in Gates Industrial Corporation PLC $GTES

Maverick Capital Ltd. purchased a new stake in Gates Industrial Corporation PLC (NYSE:GTES) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 37,398 shares of the company’s stock, valued at approximately $846,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GTES. JPMorgan Chase & Co. lifted its holdings in Gates Industrial by 98.7% in the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after acquiring an additional 4,158,341 shares during the period. Norges Bank purchased a new position in shares of Gates Industrial in the 4th quarter valued at about $74,843,000. Van Berkom & Associates Inc. purchased a new position in shares of Gates Industrial in the 4th quarter valued at about $68,614,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Gates Industrial in the second quarter valued at about $32,255,000. Finally, Nuveen LLC lifted its stake in shares of Gates Industrial by 280.0% in the fourth quarter. Nuveen LLC now owns 1,725,274 shares of the company’s stock valued at $37,042,000 after purchasing an additional 1,271,248 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Price Performance

Gates Industrial stock opened at $26.49 on Wednesday. The firm has a market capitalization of $6.73 billion, a PE ratio of 27.59 and a beta of 1.25. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $29.17. The firm’s 50-day simple moving average is $26.58 and its 200 day simple moving average is $25.33. 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 (NYSE:GTES) last posted its earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. The firm had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities research analysts predict that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GTES has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Gates Industrial from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Robert W. Baird decreased their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Royal Bank Of Canada boosted their price target on Gates Industrial from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Finally, Barclays lowered 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. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Gates Industrial presently has an average rating of “Moderate Buy” and a consensus price target of $31.36.

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.