Gates Industrial (NYSE:GTES) Director Sells 6,000 Shares

Gates Industrial Corporation PLC (NYSE:GTES) Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total value of $177,360.00. Following the sale, the director directly owned 50,044 shares in the company, valued at $1,479,300.64. The trade was a 10.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Peifang Zhang also recently made the following trade(s):

• On Tuesday, August 4th, Peifang Zhang sold 5,000 shares of Gates Industrial stock. The shares were sold at an average price of $29.76, for a total value of $148,800.00.

Gates Industrial Trading Down 1.9%

Shares of NYSE:GTES traded down $0.56 during trading on Wednesday, hitting $29.28. The company had a trading volume of 2,632,138 shares, compared to its average volume of 2,287,474. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of 20.77 and a beta of 1.25. Gates Industrial Corporation PLC has a one year low of $20.88 and a one year high of $30.34. The company has a fifty day simple moving average of $26.89 and a two-hundred day simple moving average of $25.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36.

Gates Industrial (NYSE:GTES) last announced its earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $927.28 million. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, equities analysts forecast that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GTES shares. Wells Fargo & Company boosted their price objective on shares of Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday. Wall Street Zen cut shares of Gates Industrial from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley increased their price objective on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, Citigroup raised their price objective on shares of Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Institutional Trading of Gates Industrial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in shares of Gates Industrial during the fourth quarter worth $26,000. Transamerica Financial Advisors LLC increased its stake in Gates Industrial by 51.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after buying an additional 539 shares during the period. Fifth Third Bancorp increased its stake in Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after buying an additional 514 shares during the period. Parallel Advisors LLC lifted its holdings in Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after buying an additional 694 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Gates Industrial by 273.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after buying an additional 2,131 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.