Peifang Zhang Sells 6,000 Shares of Gates Industrial (NYSE:GTES) Stock

Gates Industrial Corporation PLC (NYSE:GTES) Director Peifang Zhang sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the sale, the director directly owned 50,044 shares in the company, valued at approximately $1,479,300.64. This represents a 10.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Peifang Zhang also recently made the following trade(s):

• On Tuesday, August 4th, Peifang Zhang sold 5,000 shares of Gates Industrial stock. The shares were sold at an average price of $29.76, for a total value of $148,800.00.

Gates Industrial Price Performance

Shares of NYSE GTES traded down $0.56 during mid-day trading on Wednesday, reaching $29.28. The company’s stock had a trading volume of 2,632,138 shares, compared to its average volume of 2,287,474. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $30.34. The stock has a fifty day moving average of $26.89 and a two-hundred day moving average of $25.50. The firm has a market capitalization of $7.41 billion, a PE ratio of 20.77 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last issued its earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The company had revenue of $941.60 million for the quarter, compared to the consensus estimate of $927.28 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GTES. Dimensional Fund Advisors LP increased its position in Gates Industrial by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock worth $261,040,000 after purchasing an additional 295,706 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Gates Industrial by 98.7% during the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares during the last quarter. Invesco Ltd. lifted its position in Gates Industrial by 5.9% during the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after purchasing an additional 461,160 shares during the last quarter. State Street Corp grew its stake in shares of Gates Industrial by 3.0% in the 4th quarter. State Street Corp now owns 7,971,572 shares of the company’s stock worth $171,150,000 after buying an additional 232,447 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Gates Industrial by 5.5% in the 4th quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock worth $156,840,000 after buying an additional 381,896 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Royal Bank Of Canada lifted their price target on shares of Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday. Citigroup boosted their price target on shares of Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company increased their price objective on shares of Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Morgan Stanley raised their price objective on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Gates Industrial presently has an average rating of “Moderate Buy” and an average price target of $33.00.

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.