KLCM Advisors Inc. Decreases Stake in Gates Industrial Corporation PLC $GTES

KLCM Advisors Inc. lessened its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 675,733 shares of the company’s stock after selling 31,342 shares during the period. Gates Industrial comprises 1.7% of KLCM Advisors Inc.’s investment portfolio, making the stock its 12th biggest holding. KLCM Advisors Inc.’s holdings in Gates Industrial were worth $16,772,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Gates Industrial by 5.0% during the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after purchasing an additional 1,281,339 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Gates Industrial by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,850,516 shares of the company’s stock worth $269,308,000 after acquiring an additional 28,760 shares in the last quarter. Invesco Ltd. boosted its position in shares of Gates Industrial by 3.1% during the 2nd quarter. Invesco Ltd. now owns 7,635,419 shares of the company’s stock worth $175,844,000 after acquiring an additional 226,578 shares in the last quarter. State Street Corp increased its holdings in shares of Gates Industrial by 2.4% in the 2nd quarter. State Street Corp now owns 7,346,884 shares of the company’s stock valued at $169,199,000 after acquiring an additional 170,597 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Gates Industrial by 22.3% in the 3rd quarter. Franklin Resources Inc. now owns 6,923,169 shares of the company’s stock valued at $171,833,000 after acquiring an additional 1,261,849 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Price Performance

Shares of NYSE GTES opened at $23.87 on Thursday. The stock has a market cap of $6.06 billion, a P/E ratio of 24.61 and a beta of 1.23. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $28.47. The stock has a 50 day moving average of $24.79 and a two-hundred day moving average of $24.11. The company has a current ratio of 3.37, a quick ratio of 2.42 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last announced its earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, research analysts forecast that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on GTES. Barclays boosted their target price on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. JPMorgan Chase & Co. lowered their target price 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. Robert W. Baird set a $39.00 target price on shares of Gates Industrial in a research report on Friday, February 13th. Finally, Wells Fargo & Company began coverage on shares of Gates Industrial in a research note on Thursday, November 13th. They set an “equal weight” rating and a $23.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.73.

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.