Gates Industrial Corporation PLC $GTES Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. lessened its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 8.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 740,170 shares of the company’s stock after selling 70,482 shares during the quarter. Heartland Advisors Inc.’s holdings in Gates Industrial were worth $15,891,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GTES. Empowered Funds LLC acquired a new position in shares of Gates Industrial during the 1st quarter worth $381,000. Creative Planning raised its stake in shares of Gates Industrial by 53.9% during the 2nd quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after buying an additional 5,404 shares during the last quarter. Prudential Financial Inc. raised its stake in Gates Industrial by 52.7% in the 2nd quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after purchasing an additional 6,190 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Gates Industrial by 273.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after purchasing an additional 2,131 shares during the last quarter. Finally, M&T Bank Corp raised its stake in Gates Industrial by 8.6% in the 2nd quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after purchasing an additional 937 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Stock Down 4.1%

Shares of NYSE:GTES opened at $25.32 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $28.47. The stock has a market capitalization of $6.43 billion, a P/E ratio of 26.38 and a beta of 1.27. The stock has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $24.11.

Gates Industrial (NYSE:GTES) last issued its earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The business had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. During the same quarter in the previous year, the business earned $0.36 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities analysts forecast that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GTES. Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. 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 research note on Friday, May 29th. Citigroup boosted their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Barclays cut their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, Robert W. Baird cut their target price on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.