Gates Industrial Corporation PLC $GTES Shares Sold by EVR Research LP

EVR Research LP reduced its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 91.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after selling 525,000 shares during the period. Gates Industrial accounts for about 0.7% of EVR Research LP’s holdings, making the stock its 23rd biggest position. EVR Research LP’s holdings in Gates Industrial were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of GTES. Allianz Asset Management GmbH acquired a new position in Gates Industrial in the 3rd quarter valued at about $2,033,000. Caprock Group LLC purchased a new stake in shares of Gates Industrial during the third quarter worth about $1,695,000. New York State Common Retirement Fund grew its holdings in shares of Gates Industrial by 33.4% during the third quarter. New York State Common Retirement Fund now owns 1,381,075 shares of the company’s stock worth $34,278,000 after buying an additional 345,552 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of Gates Industrial by 61.4% in the third quarter. Handelsbanken Fonder AB now owns 2,182,100 shares of the company’s stock valued at $54,160,000 after buying an additional 830,000 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Gates Industrial in the third quarter valued at approximately $4,472,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Price Performance

Gates Industrial stock opened at $23.17 on Friday. Gates Industrial Corporation PLC has a 1 year low of $14.70 and a 1 year high of $28.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.42 and a current ratio of 3.37. The firm has a 50 day moving average price of $24.83 and a 200 day moving average price of $24.11. The company has a market cap of $5.88 billion, a price-to-earnings ratio of 23.89 and a beta of 1.23.

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 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 company 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 firm posted $0.36 earnings per share. Gates Industrial’s revenue was up 3.2% on a year-over-year basis. 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 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GTES shares. JPMorgan Chase & Co. decreased their target price 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. Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Royal Bank Of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Finally, Morgan Stanley upped their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and an average target price of $30.73.

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.