Gates Industrial Corporation PLC $GTES Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,753,365 shares of the company’s stock after acquiring an additional 1,281,339 shares during the period. Vanguard Group Inc. owned 0.10% of Gates Industrial worth $664,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GTES. Norges Bank acquired a new stake in shares of Gates Industrial in the second quarter valued at approximately $80,713,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Gates Industrial in the 2nd quarter worth $32,255,000. Voya Investment Management LLC increased its stake in shares of Gates Industrial by 751.7% in the 3rd quarter. Voya Investment Management LLC now owns 1,137,088 shares of the company’s stock worth $28,223,000 after acquiring an additional 1,003,580 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Gates Industrial by 17.1% during the 2nd quarter. Franklin Resources Inc. now owns 5,661,320 shares of the company’s stock worth $130,380,000 after acquiring an additional 826,249 shares during the period. Finally, Quantinno Capital Management LP boosted its position in shares of Gates Industrial by 69.8% during the 2nd quarter. Quantinno Capital Management LP now owns 1,228,675 shares of the company’s stock valued at $28,296,000 after acquiring an additional 504,895 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Stock Up 0.5%

Gates Industrial stock opened at $27.73 on Tuesday. The company has a market capitalization of $7.04 billion, a PE ratio of 28.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.42 and a current ratio of 3.37. Gates Industrial Corporation PLC has a fifty-two week low of $14.70 and a fifty-two week high of $28.47. The firm has a 50 day moving average price of $23.77 and a 200 day moving average price of $23.97.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GTES shares. Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Royal Bank Of Canada restated an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Robert W. Baird set a $39.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Wells Fargo & Company assumed coverage on Gates Industrial in a report on Thursday, November 13th. They issued an “equal weight” rating and a $23.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.27.

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.