Peifang Zhang Sells 5,000 Shares of Gates Industrial (NYSE:GTES) Stock

Gates Industrial Corporation PLC (NYSE:GTES) Director Peifang Zhang sold 5,000 shares of Gates Industrial stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $29.76, for a total value of $148,800.00. Following the completion of the transaction, the director owned 56,044 shares of the company’s stock, valued at $1,667,869.44. The trade was a 8.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, August 5th, Peifang Zhang sold 6,000 shares of Gates Industrial stock. The stock was sold at an average price of $29.56, for a total value of $177,360.00.

Gates Industrial Stock Down 2.2%

GTES stock opened at $28.65 on Friday. The company’s 50 day moving average price is $27.02 and its 200 day moving average price is $25.59. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 20.32 and a beta of 1.25. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $30.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24.

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

Hedge Funds Weigh In On Gates Industrial

A number of hedge funds have recently modified their holdings of GTES. Los Angeles Capital Management LLC acquired a new position in shares of Gates Industrial in the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC grew its position in Gates Industrial by 51.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp increased its stake in Gates Industrial by 46.3% in the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares during the period. Parallel Advisors LLC raised its holdings in shares of Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after buying an additional 694 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley raised their price target on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Weiss Ratings raised Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Citigroup increased their price objective on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday. Finally, Royal Bank Of Canada raised their target price on Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

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.