Gates Industrial (NYSE:GTES – Get Free Report) was upgraded by equities research analysts at DA Davidson to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.
GTES has been the subject of a number of other reports. JPMorgan Chase & Co. boosted their price target on Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Wolfe Research reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Royal Bank Of Canada boosted their target price on shares of Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, KeyCorp raised their price target on shares of Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Nine equities research 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 an average rating of “Moderate Buy” and an average price target of $32.45.
Check Out Our Latest Analysis on Gates Industrial
Gates Industrial Stock Down 2.9%
Gates Industrial (NYSE:GTES – Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $941.60 million during the quarter, compared to the consensus estimate of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.39 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, equities research analysts anticipate that Gates Industrial will post 1.55 EPS for the current year.
Insider Transactions at Gates Industrial
In other news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the sale, the director owned 44,044 shares in the company, valued at $1,301,940.64. This trade represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New York State Teachers Retirement System boosted its holdings in Gates Industrial by 0.6% in the 4th quarter. New York State Teachers Retirement System now owns 85,748 shares of the company’s stock worth $1,841,000 after buying an additional 479 shares during the last quarter. Xponance LLC raised its holdings in shares of Gates Industrial by 3.7% during the fourth quarter. Xponance LLC now owns 13,792 shares of the company’s stock valued at $296,000 after acquiring an additional 486 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Gates Industrial by 46.3% in the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after acquiring an additional 514 shares in the last quarter. Glenmede Investment Management LP lifted its position in shares of Gates Industrial by 0.9% in the third quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock valued at $1,366,000 after acquiring an additional 514 shares in the last quarter. Finally, Lido Advisors LLC boosted its stake in shares of Gates Industrial by 3.8% in the fourth quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock worth $302,000 after acquiring an additional 521 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.
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.
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