Gates Industrial (NYSE:GTES) CFO Lawrence Mallard Sells 22,188 Shares of Stock

Gates Industrial Corporation PLC (NYSE:GTES) CFO Lawrence Mallard sold 22,188 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $22.77, for a total transaction of $505,220.76. Following the completion of the sale, the chief financial officer directly owned 177,627 shares in the company, valued at $4,044,566.79. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $22.49 on Friday. The firm has a market cap of $5.81 billion, a P/E ratio of 24.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.50 and a current ratio of 3.52. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $26.46. The firm’s 50-day simple moving average is $24.64 and its 200-day simple moving average is $23.60.

Gates Industrial (NYSE:GTES) last issued its earnings results on Wednesday, October 29th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $855.70 million during the quarter, compared to analysts’ expectations of $860.95 million. Gates Industrial had a return on equity of 10.38% and a net margin of 6.93%.Gates Industrial’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, research analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Institutional Trading of Gates Industrial

Several hedge funds and other institutional investors have recently modified their holdings of GTES. True Wealth Design LLC raised its position in shares of Gates Industrial by 133.2% in the third quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 666 shares during the period. SVB Wealth LLC bought a new position in shares of Gates Industrial in the 1st quarter valued at $34,000. SJS Investment Consulting Inc. increased its stake in shares of Gates Industrial by 5,123.7% in the third quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after buying an additional 1,947 shares during the period. Quent Capital LLC bought a new position in shares of Gates Industrial during the third quarter valued at $51,000. Finally, Allworth Financial LP lifted its holdings in Gates Industrial by 43.0% during the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock worth $48,000 after buying an additional 630 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GTES. Zacks Research lowered shares of Gates Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Wells Fargo & Company set a $23.00 price objective on shares of Gates Industrial in a research note on Thursday. KeyCorp reiterated an “overweight” rating and issued a $30.00 target price (up previously from $26.00) on shares of Gates Industrial in a research note on Thursday, July 31st. UBS Group decreased their price target on Gates Industrial from $30.00 to $29.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada reduced their price objective on Gates Industrial from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Gates Industrial has an average rating of “Moderate Buy” and a consensus price target of $27.17.

Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.