Readystate Asset Management LP Buys Shares of 118,761 Gates Industrial Corporation PLC $GTES

Readystate Asset Management LP purchased a new position in Gates Industrial Corporation PLC (NYSE:GTES) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 118,761 shares of the company’s stock, valued at approximately $2,948,000.

Other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in shares of Gates Industrial during the first quarter valued at about $381,000. Vanguard Personalized Indexing Management LLC acquired a new stake in Gates Industrial in the second quarter valued at approximately $236,000. CWM LLC grew its holdings in Gates Industrial by 2.9% in the second quarter. CWM LLC now owns 57,462 shares of the company’s stock worth $1,323,000 after purchasing an additional 1,642 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Gates Industrial during the second quarter worth $267,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Gates Industrial during the 2nd quarter valued at $1,202,000. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

NYSE:GTES opened at $27.33 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42. The company has a 50 day moving average price of $23.33 and a 200-day moving average price of $23.88. Gates Industrial Corporation PLC has a 1-year low of $14.70 and a 1-year high of $28.47. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 28.18 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same quarter last year, the business earned $0.36 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities research analysts forecast that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

GTES has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday. Robert W. Baird set a $39.00 target price on shares of Gates Industrial in a research note on Friday. Barclays boosted their target price on shares of Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Gates Industrial in a research note on Friday. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

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.