Gates Industrial Corporation PLC $GTES Stock Position Lowered by Danske Bank A S

Danske Bank A S decreased its position in Gates Industrial Corporation PLC (NYSE:GTES) by 94.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,300 shares of the company’s stock after selling 40,200 shares during the period. Danske Bank A S’s holdings in Gates Industrial were worth $49,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in shares of Gates Industrial in the third quarter valued at $2,033,000. Caprock Group LLC acquired a new stake in shares of Gates Industrial in the third quarter worth $1,695,000. New York State Common Retirement Fund grew its holdings in shares of Gates Industrial by 33.4% during the third quarter. New York State Common Retirement Fund now owns 1,381,075 shares of the company’s stock valued at $34,278,000 after buying an additional 345,552 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Gates Industrial by 61.4% during the third quarter. Handelsbanken Fonder AB now owns 2,182,100 shares of the company’s stock valued at $54,160,000 after buying an additional 830,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Gates Industrial by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock valued at $312,578,000 after buying an additional 717,353 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Price Performance

GTES opened at $26.09 on Friday. The stock has a fifty day moving average price of $24.44 and a 200 day moving average price of $23.73. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61. Gates Industrial Corporation PLC has a 1 year low of $20.39 and a 1 year high of $28.47. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 27.18 and a beta of 1.28.

Gates Industrial (NYSE:GTES) last issued its earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. The company had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The business’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts forecast that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GTES has been the subject of several research analyst reports. Barclays reduced their price objective on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Morgan Stanley upped their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Wednesday, March 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Robert W. Baird decreased their price target on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, Wall Street Zen raised shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and an average price target of $30.18.

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.