Cooke & Bieler LP Buys New Stake in Gates Industrial Corporation PLC $GTES

Cooke & Bieler LP acquired a new stake in Gates Industrial Corporation PLC (NYSE:GTES) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 353,250 shares of the company’s stock, valued at approximately $9,255,000. Cooke & Bieler LP owned 0.14% of Gates Industrial as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GTES. Fifth Third Bancorp boosted its stake in shares of Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares during the last quarter. Parallel Advisors LLC increased its stake in Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after purchasing an additional 694 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Gates Industrial during the 4th quarter valued at about $72,000. Integrated Wealth Concepts LLC purchased a new position in shares of Gates Industrial during the second quarter valued at approximately $120,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Gates Industrial by 21.9% in the third quarter. Nisa Investment Advisors LLC now owns 6,064 shares of the company’s stock valued at $159,000 after purchasing an additional 1,089 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. 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 report on Monday, August 3rd. Wolfe Research reaffirmed an “outperform” rating and set a $33.00 target price on shares of Gates Industrial in a report on Thursday, July 9th. KeyCorp raised their price target on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Wall Street Zen lowered Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 10th. Finally, DA Davidson began coverage on Gates Industrial in a research note on Tuesday, September 1st. They issued a “neutral” rating and a $29.00 target price for the company. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.45.

Insiders Place Their Bets

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total value of $177,360.00. Following the completion of the sale, the director owned 44,044 shares in the company, valued at $1,301,940.64. This represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.

Gates Industrial Price Performance

GTES opened at $26.71 on Thursday. The firm has a market cap of $6.76 billion, a PE ratio of 18.94 and a beta of 1.28. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $30.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. The stock has a 50-day moving average price of $26.29 and a 200-day moving average price of $26.26.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $927.28 million. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Sell-side analysts predict that Gates Industrial Corporation PLC will post 1.58 earnings per share for the current fiscal year.

About Gates Industrial

Gates Industrial Corporation plc (NYSE: GTES) is a manufacturer of engineered power transmission and fluid power products. The company develops solutions designed to transfer power, control motion, and manage the flow of fluids in industrial and mobile applications.

Its product portfolio includes synchronous and V-belts, belt drives, hoses, hydraulic assemblies, couplings, tensioners, pulleys, and related components. Gates serves original equipment manufacturers, distributors, and aftermarket customers across industries such as automotive, agriculture, construction, energy, manufacturing, and general industrial equipment.

The company traces its roots to the Gates Rubber Company, founded in 1911 in Denver, Colorado.