Readystate Asset Management LP Takes Position in Gates Industrial Corporation PLC $GTES

Readystate Asset Management LP bought a new position in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 118,761 shares of the company’s stock, valued at approximately $2,948,000.

Several other institutional investors also recently bought and sold shares of GTES. True Wealth Design LLC boosted its holdings in shares of Gates Industrial by 133.2% during the third 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 last quarter. Allworth Financial LP boosted its stake in Gates Industrial by 43.0% in the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock worth $48,000 after buying an additional 630 shares during the last quarter. SJS Investment Consulting Inc. grew its holdings in Gates Industrial by 5,123.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after buying an additional 1,947 shares during the period. Quent Capital LLC acquired a new position in shares of Gates Industrial during the 3rd quarter valued at about $51,000. Finally, Avanza Fonder AB lifted its holdings in shares of Gates Industrial by 85.3% during the 3rd quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock worth $61,000 after acquiring an additional 1,124 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GTES. JPMorgan Chase & Co. lowered their target price on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Barclays upped their price objective on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, UBS Group restated a “buy” rating and issued a $33.00 price objective on shares of Gates Industrial in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Gates Industrial Stock Performance

Gates Industrial stock opened at $27.33 on Wednesday. Gates Industrial Corporation PLC has a fifty-two week low of $14.70 and a fifty-two week high of $28.47. The company has a market capitalization of $7.06 billion, a PE ratio of 28.18 and a beta of 1.27. The company has a 50 day moving average price of $23.33 and a 200-day moving average price of $23.88. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.42 and a current ratio of 3.37.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.The business had revenue of $856.20 million during the quarter, compared to analyst estimates of $853.35 million. During the same period in the previous year, the company posted $0.36 EPS. Gates Industrial’s revenue was up 3.2% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities analysts forecast that Gates Industrial Corporation PLC will post 1.36 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.