Chicago Partners Investment Group LLC Takes $331,000 Position in Gates Industrial Corporation PLC $GTES

Chicago Partners Investment Group LLC purchased a new stake in Gates Industrial Corporation PLC (NYSE:GTES) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,272 shares of the company’s stock, valued at approximately $331,000.

Other large investors have also modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of Gates Industrial in the first quarter valued at approximately $34,000. Steph & Co. purchased a new position in shares of Gates Industrial during the second quarter valued at approximately $70,000. Aaron Wealth Advisors LLC purchased a new position in shares of Gates Industrial during the second quarter valued at approximately $205,000. GAMMA Investing LLC lifted its stake in shares of Gates Industrial by 81.0% during the first quarter. GAMMA Investing LLC now owns 9,099 shares of the company’s stock valued at $168,000 after buying an additional 4,073 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Gates Industrial during the second quarter valued at approximately $235,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GTES. Royal Bank Of Canada upped their price objective on shares of Gates Industrial from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Citigroup upped their price objective on shares of Gates Industrial from $22.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, July 14th. Industrial Alliance Securities set a $35.00 price objective on shares of Gates Industrial in a research note on Monday, August 25th. Zacks Research downgraded shares of Gates Industrial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.18.

Gates Industrial Stock Performance

Shares of GTES stock opened at $26.07 on Friday. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $26.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46. The company has a 50 day moving average price of $25.33 and a 200 day moving average price of $22.96. The firm has a market capitalization of $6.71 billion, a price-to-earnings ratio of 33.42 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The firm had revenue of $883.70 million during the quarter, compared to analyst estimates of $873.34 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Gates Industrial’s revenue for the quarter was down .2% compared to the same quarter last year. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.

Gates Industrial Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.