Granahan Investment Management LLC Decreases Stake in Gates Industrial Corporation PLC $GTES

Granahan Investment Management LLC lowered its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 26.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 682,310 shares of the company’s stock after selling 245,930 shares during the period. Granahan Investment Management LLC’s holdings in Gates Industrial were worth $16,935,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GTES. Empowered Funds LLC bought a new position in shares of Gates Industrial in the first quarter worth approximately $381,000. Allworth Financial LP raised its holdings in Gates Industrial by 43.0% during the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock valued at $48,000 after buying an additional 630 shares during the last quarter. Vise Technologies Inc. bought a new stake in Gates Industrial during the 2nd quarter valued at $212,000. Geode Capital Management LLC boosted its position in Gates Industrial by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 3,963,993 shares of the company’s stock valued at $91,305,000 after buying an additional 110,393 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its position in Gates Industrial by 13.6% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 97,002 shares of the company’s stock valued at $2,234,000 after buying an additional 11,579 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Performance

Shares of GTES opened at $22.74 on Monday. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $24.84 and its 200-day moving average price is $24.06. Gates Industrial Corporation PLC has a 52 week low of $14.70 and a 52 week high of $28.47. The stock has a market cap of $5.77 billion, a P/E ratio of 23.45 and a beta of 1.22.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, topping 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 company had revenue of $856.20 million for the quarter, compared to the consensus estimate of $853.35 million. During the same quarter in the prior year, the business posted $0.36 EPS. The firm’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. Equities research analysts anticipate that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on GTES shares. JPMorgan Chase & Co. decreased their price objective on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Citigroup increased their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Weiss Ratings raised Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Barclays boosted their price target on Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus target price of $30.73.

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.