Strs Ohio Lowers Stock Holdings in Gates Industrial Corporation PLC $GTES
by Scott Moore · The Cerbat GemStrs Ohio trimmed its stake in Gates Industrial Corporation PLC (NYSE:GTES – Free Report) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 360,174 shares of the company’s stock after selling 67,289 shares during the period. Strs Ohio owned about 0.14% of Gates Industrial worth $7,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC lifted its position in shares of Gates Industrial by 133.2% in the 3rd quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock worth $29,000 after purchasing an additional 666 shares during the period. Quent Capital LLC purchased a new stake in shares of Gates Industrial in the 3rd quarter worth approximately $51,000. Assetmark Inc. lifted its position in shares of Gates Industrial by 38.1% in the 3rd quarter. Assetmark Inc. now owns 2,448 shares of the company’s stock worth $61,000 after purchasing an additional 676 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Gates Industrial in the 3rd quarter worth approximately $65,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Gates Industrial by 273.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after purchasing an additional 2,131 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.
Gates Industrial Trading Up 2.6%
NYSE GTES opened at $24.69 on Tuesday. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $6.29 billion, a PE ratio of 25.72 and a beta of 1.28. The company has a 50 day moving average price of $24.57 and a 200 day moving average price of $23.73. Gates Industrial Corporation PLC has a 52 week low of $19.56 and a 52 week high of $28.47.
Gates Industrial (NYSE:GTES – Get Free Report) last posted 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. The firm had revenue of $851.10 million during the quarter, compared to analyst estimates of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. Gates Industrial’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, sell-side analysts forecast that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.
Wall Street Analyst Weigh In
GTES has been the subject of several research reports. Wall Street Zen raised shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Barclays reduced their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Citigroup raised their price target on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.18.
Get Our Latest Analysis on GTES
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.