London Co. of Virginia Has $36.57 Million Position in Gates Industrial Corporation PLC $GTES

London Co. of Virginia cut its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 3.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,473,383 shares of the company’s stock after selling 56,970 shares during the quarter. London Co. of Virginia owned approximately 0.57% of Gates Industrial worth $36,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Gates Industrial by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after purchasing an additional 1,281,339 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gates Industrial by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,850,516 shares of the company’s stock valued at $269,308,000 after purchasing an additional 28,760 shares during the last quarter. Invesco Ltd. boosted its position in Gates Industrial by 3.0% in the third quarter. Invesco Ltd. now owns 7,861,494 shares of the company’s stock valued at $195,122,000 after buying an additional 226,075 shares in the last quarter. State Street Corp grew its stake in Gates Industrial by 2.4% during the second quarter. State Street Corp now owns 7,346,884 shares of the company’s stock worth $169,199,000 after buying an additional 170,597 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Gates Industrial by 22.3% during the third 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 last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Trading Up 0.5%

GTES opened at $22.87 on Tuesday. 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 market cap of $5.81 billion, a price-to-earnings ratio of 23.58 and a beta of 1.22. The firm has a 50 day simple moving average of $24.85 and a 200 day simple moving average of $24.04. Gates Industrial Corporation PLC has a fifty-two week low of $14.70 and a fifty-two week high of $28.47.

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

Analyst Ratings Changes

GTES has been the subject of several recent analyst reports. Wall Street Zen raised shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a 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 research report on Friday, February 13th. Citigroup raised their price target on Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Morgan Stanley lifted their price objective on Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 11th. Finally, Barclays boosted their price objective on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.73.

Gates Industrial Company 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.