Gates Industrial Corporation PLC $GTES Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 5.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 26,753,365 shares of the company’s stock after buying an additional 1,281,339 shares during the period. Vanguard Group Inc. owned about 10.36% of Gates Industrial worth $664,019,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GTES. Norges Bank acquired a new stake in Gates Industrial during the second quarter worth about $80,713,000. Adage Capital Partners GP L.L.C. purchased a new stake in Gates Industrial in the 2nd quarter worth approximately $32,255,000. Voya Investment Management LLC grew its stake in shares of Gates Industrial by 751.7% during the 3rd quarter. Voya Investment Management LLC now owns 1,137,088 shares of the company’s stock worth $28,223,000 after purchasing an additional 1,003,580 shares during the period. Franklin Resources Inc. increased its holdings in shares of Gates Industrial by 17.1% during the 2nd quarter. Franklin Resources Inc. now owns 5,661,320 shares of the company’s stock valued at $130,380,000 after purchasing an additional 826,249 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Gates Industrial by 69.8% in the 2nd quarter. Quantinno Capital Management LP now owns 1,228,675 shares of the company’s stock valued at $28,296,000 after purchasing an additional 504,895 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GTES shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, December 29th. Barclays raised their target price on Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. reduced their price target on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Finally, UBS Group restated a “buy” rating and issued a $33.00 price objective on shares of Gates Industrial in a research report on Friday, February 13th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus price target of $30.27.

Gates Industrial Price Performance

NYSE:GTES opened at $27.73 on Tuesday. The stock has a 50 day moving average of $23.77 and a two-hundred day moving average of $23.97. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $28.47. The firm has a market cap of $7.04 billion, a P/E ratio of 28.59 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 2.42 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last released its earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $853.35 million. During the same quarter last year, the business posted $0.36 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, analysts expect that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

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.