Gates Industrial Corporation PLC $GTES Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,154,140 shares of the company’s stock after purchasing an additional 44,987 shares during the quarter. Victory Capital Management Inc. owned about 1.22% of Gates Industrial worth $78,286,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Gates Industrial during the second quarter worth about $80,713,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Gates Industrial during the 2nd quarter valued at about $32,255,000. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,281,339 shares during the period. Voya Investment Management LLC lifted its holdings in shares of Gates Industrial by 751.7% during the 3rd quarter. Voya Investment Management LLC now owns 1,137,088 shares of the company’s stock worth $28,223,000 after acquiring an additional 1,003,580 shares during the period. Finally, Handelsbanken Fonder AB boosted 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 worth $54,160,000 after acquiring an additional 830,000 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTES has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. Citigroup increased their target price on Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, Wells Fargo & Company assumed coverage on Gates Industrial in a research note on Thursday, November 13th. They set an “equal weight” rating and a $23.00 price target for the company. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gates Industrial presently has an average rating of “Moderate Buy” and an average price target of $30.27.

Gates Industrial Stock Down 3.1%

Shares of Gates Industrial stock opened at $25.43 on Friday. The company has a fifty day moving average price of $24.61 and a 200 day moving average price of $24.13. The company has a current ratio of 3.37, a quick ratio of 2.42 and a debt-to-equity ratio of 0.61. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $28.47. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 26.22 and a beta of 1.23.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.The company had revenue of $856.20 million for the quarter, compared to analysts’ expectations of $853.35 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly 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. Equities research analysts forecast that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

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.