California State Teachers Retirement System Increases Stock Position in Gates Industrial Corporation PLC $GTES

California State Teachers Retirement System raised its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 24.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 303,123 shares of the company’s stock after acquiring an additional 58,990 shares during the quarter. California State Teachers Retirement System’s holdings in Gates Industrial were worth $6,854,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Los Angeles Capital Management LLC bought a new stake in Gates Industrial in the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares during the last quarter. Parallel Advisors LLC lifted its position in Gates Industrial by 37.7% during the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after purchasing an additional 694 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in 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. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Trading Down 1.9%

Shares of GTES stock opened at $29.28 on Thursday. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $30.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. The stock’s 50 day simple moving average is $26.96 and its two-hundred day simple moving average is $25.55. The company has a market cap of $7.41 billion, a PE ratio of 20.77 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data on Friday, July 31st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. During the same period in the previous year, the firm earned $0.39 earnings per share. Gates Industrial’s quarterly revenue was up 6.6% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Research analysts predict that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Peifang Zhang sold 6,000 shares of the 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 directly owned 50,044 shares of the company’s stock, valued at $1,479,300.64. This represents a 10.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GTES shares. JPMorgan Chase & Co. raised their price objective on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday. Robert W. Baird boosted their price objective on Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank Of Canada raised their target price on shares of Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday. Wolfe Research reiterated an “outperform” rating and issued a $33.00 price target on shares of Gates Industrial in a research report on Thursday, July 9th. Finally, Morgan Stanley increased their price target on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

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.