GW&K Investment Management LLC Decreases Holdings in Gates Industrial Corporation PLC $GTES

GW&K Investment Management LLC cut its position in Gates Industrial Corporation PLC (NYSE:GTES) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,503,972 shares of the company’s stock after selling 447,146 shares during the quarter. Gates Industrial comprises about 1.0% of GW&K Investment Management LLC’s holdings, making the stock its 11th largest position. GW&K Investment Management LLC owned about 1.74% of Gates Industrial worth $111,788,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Gates Industrial in the 2nd quarter worth approximately $80,713,000. Adage Capital Partners GP L.L.C. bought a new stake in Gates Industrial in the 2nd quarter worth approximately $32,255,000. Vanguard Group Inc. raised its stake in Gates Industrial by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after purchasing an additional 1,281,339 shares in the last quarter. Voya Investment Management LLC lifted its holdings 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 valued at $28,223,000 after acquiring an additional 1,003,580 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Gates Industrial by 61.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,182,100 shares of the company’s stock valued at $54,160,000 after purchasing an additional 830,000 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Gates Industrial Stock Down 0.4%

NYSE GTES opened at $26.27 on Thursday. The company has a market cap of $6.67 billion, a P/E ratio of 27.09 and a beta of 1.23. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $28.47. The business has a fifty day moving average price of $24.54 and a 200 day moving average price of $24.12. 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 (NYSE:GTES) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $853.35 million. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter 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 anticipate that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on GTES. Robert W. Baird set a $39.00 target price on Gates Industrial in a research note on Friday, February 13th. JPMorgan Chase & Co. reduced their price target on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Citigroup boosted their price target on Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Gates Industrial in a research report on Friday, February 13th. Finally, Barclays raised their price target on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.27.

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.