Gates Industrial Corporation PLC $GTES Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 61.4% in the third quarter, HoldingsChannel reports. The firm owned 2,182,100 shares of the company’s stock after purchasing an additional 830,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Gates Industrial were worth $54,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in GTES. Norges Bank bought a new stake in Gates Industrial in the second quarter valued at $80,713,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Gates Industrial during the second quarter worth about $32,255,000. Vanguard Group Inc. increased its holdings in shares of Gates Industrial by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after acquiring an additional 1,281,339 shares during the period. Voya Investment Management LLC increased its stake in shares of Gates Industrial by 751.7% in the third quarter. Voya Investment Management LLC now owns 1,137,088 shares of the company’s stock valued at $28,223,000 after purchasing an additional 1,003,580 shares during the period. Finally, Franklin Resources Inc. raised its stake in 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 acquiring an additional 826,249 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Trading Down 1.1%

Shares of NYSE GTES opened at $27.20 on Friday. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $28.47. The business has a fifty day simple moving average of $24.14 and a 200-day simple moving average of $24.05. The company has a market cap of $6.90 billion, a price-to-earnings ratio of 28.04 and a beta of 1.27. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The business had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. The firm’s 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. Sell-side analysts predict that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. UBS Group reissued a “buy” rating and issued a $33.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. JPMorgan Chase & Co. decreased their target price on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Citigroup boosted their price target on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Wells Fargo & Company started coverage on shares of Gates Industrial in a report on Thursday, November 13th. They issued an “equal weight” rating and a $23.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.27.

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.