Geode Capital Management LLC Increases Stock Position in Gates Industrial Corporation PLC $GTES

Geode Capital Management LLC boosted its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,417,046 shares of the company’s stock after purchasing an additional 83,980 shares during the quarter. Geode Capital Management LLC owned about 1.71% of Gates Industrial worth $94,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of GTES. Assetmark Inc. grew its position in Gates Industrial by 38.1% during the third quarter. Assetmark Inc. now owns 2,448 shares of the company’s stock valued at $61,000 after acquiring an additional 676 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Gates Industrial during the third quarter valued at approximately $65,000. Northwestern Mutual Wealth Management Co. grew its position in Gates Industrial by 273.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after acquiring an additional 2,131 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Gates Industrial by 1,976.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,970 shares of the company’s stock valued at $68,000 after acquiring an additional 2,827 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Gates Industrial during the third quarter valued at approximately $73,000. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $25.62 on Friday. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.51 billion, a PE ratio of 26.69 and a beta of 1.27. The business has a 50 day moving average of $24.80 and a 200 day moving average of $24.00. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $28.47.

Gates Industrial (NYSE:GTES) last announced its earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The company had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities research analysts forecast that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wall Street Zen cut shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Barclays reduced their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. UBS Group reiterated a “buy” rating and set a $33.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Morgan Stanley increased their price target on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Finally, Weiss Ratings cut shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.