Louisiana State Employees Retirement System Invests $2.55 Million in Gates Industrial Corporation PLC $GTES

Louisiana State Employees Retirement System purchased a new position in Gates Industrial Corporation PLC (NYSE:GTES) during the 1st quarter, HoldingsChannel reports. The fund purchased 112,600 shares of the company’s stock, valued at approximately $2,546,000.

Several other large investors also recently bought and sold shares of GTES. JPMorgan Chase & Co. grew its stake in Gates Industrial by 98.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after acquiring an additional 4,158,341 shares in the last quarter. Norges Bank purchased a new position in Gates Industrial in the 4th quarter worth approximately $74,843,000. Van Berkom & Associates Inc. acquired a new position in shares of Gates Industrial during the 4th quarter worth approximately $68,614,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Gates Industrial during the 2nd quarter worth approximately $32,255,000. Finally, Nuveen LLC grew its position in shares of Gates Industrial by 280.0% in the fourth quarter. Nuveen LLC now owns 1,725,274 shares of the company’s stock valued at $37,042,000 after purchasing an additional 1,271,248 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

Shares of GTES opened at $28.05 on Tuesday. Gates Industrial Corporation PLC has a 1-year low of $20.88 and a 1-year high of $29.17. The stock has a market cap of $7.12 billion, a PE ratio of 29.22 and a beta of 1.27. The firm has a 50-day simple moving average of $26.03 and a two-hundred day simple moving average of $24.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts forecast that Gates Industrial Corporation PLC will post 1.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GTES. Morgan Stanley increased their price target on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Barclays cut their target price 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. Weiss Ratings lowered Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Finally, Robert W. Baird lowered their price target on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

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.