Fred Alger Management LLC Has $37.93 Million Holdings in Gates Industrial Corporation PLC $GTES

Fred Alger Management LLC raised its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,528,147 shares of the company’s stock after acquiring an additional 36,367 shares during the period. Fred Alger Management LLC owned approximately 0.59% of Gates Industrial worth $37,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Gates Industrial by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after purchasing an additional 1,281,339 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Gates Industrial by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 10,850,516 shares of the company’s stock valued at $269,308,000 after buying an additional 28,760 shares in the last quarter. Invesco Ltd. increased its position in Gates Industrial by 3.0% during the 3rd quarter. Invesco Ltd. now owns 7,861,494 shares of the company’s stock worth $195,122,000 after buying an additional 226,075 shares during the period. State Street Corp lifted its holdings in shares of Gates Industrial by 2.4% during the second quarter. State Street Corp now owns 7,346,884 shares of the company’s stock worth $169,199,000 after buying an additional 170,597 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Gates Industrial by 22.3% during the third quarter. Franklin Resources Inc. now owns 6,923,169 shares of the company’s stock worth $171,833,000 after buying an additional 1,261,849 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GTES. Citigroup upped their price target on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. Robert W. Baird set a $39.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Barclays lifted their price target on shares of Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Gates Industrial has a consensus rating of “Moderate Buy” and an average price target of $30.73.

Gates Industrial Stock Down 1.8%

GTES stock opened at $22.74 on Monday. Gates Industrial Corporation PLC has a 52 week low of $14.70 and a 52 week high of $28.47. The business has a 50-day simple moving average of $24.84 and a 200 day simple moving average of $24.06. 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 company has a market cap of $5.77 billion, a PE ratio of 23.45 and a beta of 1.22.

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