Gates Industrial Corporation PLC $GTES Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 2.6% during the first quarter, HoldingsChannel reports. The fund owned 11,546,581 shares of the company’s stock after purchasing an additional 295,706 shares during the period. Dimensional Fund Advisors LP’s holdings in Gates Industrial were worth $261,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GTES. Allspring Global Investments Holdings LLC lifted its stake 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 worth $312,578,000 after purchasing an additional 717,353 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Gates Industrial by 98.7% in the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares during the last quarter. Invesco Ltd. raised its holdings in Gates Industrial by 5.9% during the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock worth $178,687,000 after purchasing an additional 461,160 shares in the last quarter. State Street Corp raised its holdings in Gates Industrial by 3.0% during the fourth quarter. State Street Corp now owns 7,971,572 shares of the company’s stock worth $171,150,000 after purchasing an additional 232,447 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Gates Industrial by 5.5% during the fourth quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock worth $156,840,000 after purchasing an additional 381,896 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Stock Up 1.1%

Shares of NYSE:GTES opened at $27.35 on Thursday. Gates Industrial Corporation PLC has a 1-year low of $20.88 and a 1-year high of $29.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66. The stock has a market cap of $6.95 billion, a P/E ratio of 28.49 and a beta of 1.25. The firm has a fifty day moving average price of $26.39 and a 200 day moving average price of $25.20.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data 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 net margin of 7.23% and a return on equity of 10.00%. The company had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period in the previous year, the business posted $0.36 earnings per share. Gates Industrial’s quarterly revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Sell-side analysts predict that Gates Industrial Corporation PLC will post 1.53 EPS for the current year.

Analyst Upgrades and Downgrades

GTES has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Robert W. Baird cut 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 note on Monday, May 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Wolfe Research restated an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada upped their price objective on shares of Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.36.

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.