GW&K Investment Management LLC Grows Position in Gates Industrial Corporation PLC $GTES

GW&K Investment Management LLC grew its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,534,381 shares of the company’s stock after acquiring an additional 30,409 shares during the quarter. Gates Industrial accounts for 0.8% of GW&K Investment Management LLC’s portfolio, making the stock its 16th largest position. GW&K Investment Management LLC’s holdings in Gates Industrial were worth $97,353,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GTES. Empowered Funds LLC purchased a new position in Gates Industrial during the first quarter worth $381,000. Creative Planning increased its position in Gates Industrial by 53.9% during the second quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after buying an additional 5,404 shares in the last quarter. Prudential Financial Inc. increased its position in Gates Industrial by 52.7% during the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock worth $389,000 after buying an additional 6,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Gates Industrial by 273.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after buying an additional 2,131 shares in the last quarter. Finally, M&T Bank Corp increased its position in Gates Industrial by 8.6% during the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock worth $272,000 after buying an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GTES. Barclays dropped their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. UBS Group reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Gates Industrial in a research report on Friday, February 13th. Robert W. Baird lowered their price objective on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Citigroup lifted their price objective on Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Morgan Stanley lifted their price objective on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Gates Industrial has an average rating of “Moderate Buy” and an average target price of $31.00.

Gates Industrial Price Performance

Shares of NYSE:GTES opened at $26.41 on Wednesday. The company has a market cap of $6.71 billion, a P/E ratio of 27.51 and a beta of 1.27. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $28.47. The business has a fifty day simple moving average of $24.96 and a 200-day simple moving average of $24.08.

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

Gates Industrial 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.