Leeward Investments LLC MA decreased its holdings in Gates Industrial Corporation PLC (NYSE:GTES – Free Report) by 2.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,087,544 shares of the company’s stock after selling 30,012 shares during the quarter. Gates Industrial comprises about 1.2% of Leeward Investments LLC MA’s portfolio, making the stock its 13th biggest position. Leeward Investments LLC MA owned approximately 0.43% of Gates Industrial worth $24,589,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its stake in Gates Industrial by 3.7% in the fourth quarter. Corient Private Wealth LLC now owns 181,165 shares of the company’s stock valued at $3,890,000 after buying an additional 6,455 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gates Industrial during the fourth quarter valued at about $72,000. Kera Capital Partners Inc. boosted its stake in Gates Industrial by 34.2% in the 4th quarter. Kera Capital Partners Inc. now owns 25,784 shares of the company’s stock worth $594,000 after purchasing an additional 6,565 shares in the last quarter. Dean Capital Management boosted its stake in Gates Industrial by 3.2% in the 4th quarter. Dean Capital Management now owns 92,225 shares of the company’s stock worth $1,980,000 after purchasing an additional 2,846 shares in the last quarter. Finally, Invesco Ltd. grew its position in Gates Industrial by 5.9% during the 4th 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 during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Barclays cut their target price on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Morgan Stanley raised their target price on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Finally, Robert W. Baird dropped their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.
Gates Industrial Stock Down 4.5%
GTES stock opened at $27.23 on Wednesday. The company has a market capitalization of $6.92 billion, a P/E ratio of 28.36 and a beta of 1.27. Gates Industrial Corporation PLC has a 12 month low of $20.88 and a 12 month high of $28.59. The firm’s fifty day simple moving average is $25.80 and its 200-day simple moving average is $24.44. 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 – Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The firm had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. 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.
Gates Industrial 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.
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