Hantz Financial Services Inc. Grows Position in Gates Industrial Corporation PLC $GTES

Hantz Financial Services Inc. lifted its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 7.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,526 shares of the company’s stock after purchasing an additional 6,848 shares during the quarter. Hantz Financial Services Inc.’s holdings in Gates Industrial were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of GTES. SVB Wealth LLC acquired a new position in Gates Industrial during the 1st quarter worth about $34,000. Steph & Co. acquired a new position in Gates Industrial during the 2nd quarter worth about $70,000. GAMMA Investing LLC lifted its stake in Gates Industrial by 81.0% during the 1st quarter. GAMMA Investing LLC now owns 9,099 shares of the company’s stock worth $168,000 after acquiring an additional 4,073 shares in the last quarter. Aristeia Capital L.L.C. acquired a new position in Gates Industrial during the 1st quarter worth about $193,000. Finally, Aaron Wealth Advisors LLC acquired a new position in Gates Industrial during the 2nd quarter worth about $205,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GTES has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on Gates Industrial from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Wednesday, October 8th. Royal Bank Of Canada decreased their target price on Gates Industrial from $29.00 to $26.00 and set an “outperform” rating on the stock in a research note on Thursday. Industrial Alliance Securities set a $35.00 target price on Gates Industrial in a research note on Monday, August 25th. Finally, Zacks Research lowered Gates Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus price target of $27.64.

Gates Industrial Price Performance

GTES stock opened at $21.99 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.52 and a quick ratio of 2.46. The firm has a market capitalization of $5.68 billion, a P/E ratio of 24.17 and a beta of 1.25. The business’s 50-day moving average is $25.28 and its two-hundred day moving average is $23.30. Gates Industrial Corporation PLC has a 1 year low of $14.70 and a 1 year high of $26.46.

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

Gates Industrial 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.