Gradient Investments LLC Acquires Shares of 30,828 Gates Industrial Corporation PLC $GTES

Gradient Investments LLC purchased a new position in Gates Industrial Corporation PLC (NYSE:GTES) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,828 shares of the company’s stock, valued at approximately $862,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of Gates Industrial by 2.6% in the 1st 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 period. JPMorgan Chase & Co. increased its holdings 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 buying an additional 4,158,341 shares during the period. Invesco Ltd. increased its holdings 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 buying an additional 461,160 shares during the period. State Street Corp raised its stake in Gates Industrial by 3.0% in the fourth 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. raised its stake in Gates Industrial by 5.5% in the fourth 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. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Performance

Shares of Gates Industrial stock opened at $28.31 on Monday. The firm has a market capitalization of $7.17 billion, a P/E ratio of 20.08 and a beta of 1.25. The company has a quick ratio of 2.36, a current ratio of 3.24 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average price of $27.07 and a 200 day moving average price of $25.63. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $30.34.

Gates Industrial (NYSE:GTES) last released its earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. Gates Industrial’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Sell-side analysts expect that Gates Industrial Corporation PLC will post 1.53 EPS for the current year.

Wall Street Analyst Weigh In

GTES has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their target price on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Morgan Stanley lifted their price objective on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Wells Fargo & Company boosted their price objective on shares of Gates Industrial from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, August 3rd. Finally, Citigroup increased their target price on shares of Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Activity at Gates Industrial

In other news, Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the sale, the director directly owned 44,044 shares of the company’s stock, valued at $1,301,940.64. The trade was a 11.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

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.