Heartland Advisors Inc. Lowers Holdings in Gates Industrial Corporation PLC $GTES

Heartland Advisors Inc. trimmed its position in Gates Industrial Corporation PLC (NYSE:GTES) by 8.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 740,170 shares of the company’s stock after selling 70,482 shares during the period. Heartland Advisors Inc. owned approximately 0.29% of Gates Industrial worth $15,891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GTES. JPMorgan Chase & Co. grew its position in Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after buying an additional 4,158,341 shares during the last quarter. Norges Bank purchased a new position in Gates Industrial in the 4th quarter valued at $74,843,000. Van Berkom & Associates Inc. purchased a new position in Gates Industrial in the 4th quarter valued at $68,614,000. Adage Capital Partners GP L.L.C. purchased a new position in Gates Industrial in the 2nd quarter valued at $32,255,000. Finally, Vanguard Group Inc. grew its position in Gates Industrial by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after buying an additional 1,281,339 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on GTES. Robert W. Baird lowered their price objective on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Morgan Stanley raised their target price on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. UBS Group reissued a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Finally, Barclays reduced their target price on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.00.

Gates Industrial Price Performance

Gates Industrial stock opened at $25.32 on Thursday. Gates Industrial Corporation PLC has a one year low of $20.88 and a one year high of $28.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. The business has a fifty day moving average of $25.04 and a two-hundred day moving average of $24.11. The company has a market cap of $6.43 billion, a P/E ratio of 26.38 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts predict that Gates Industrial Corporation PLC will post 1.54 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.