London Co. of Virginia Sells 56,970 Shares of Gates Industrial Corporation PLC $GTES

London Co. of Virginia decreased its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,473,383 shares of the company’s stock after selling 56,970 shares during the quarter. London Co. of Virginia’s holdings in Gates Industrial were worth $36,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in shares of Gates Industrial by 133.2% during the 3rd quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock worth $29,000 after buying an additional 666 shares during the period. Allworth Financial LP increased its stake in shares of Gates Industrial by 43.0% in the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock valued at $48,000 after acquiring an additional 630 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of Gates Industrial by 5,123.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after acquiring an additional 1,947 shares during the period. Quent Capital LLC acquired a new stake in shares of Gates Industrial in the 3rd quarter valued at approximately $51,000. Finally, Avanza Fonder AB boosted its stake in Gates Industrial by 85.3% during the 3rd quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock worth $61,000 after acquiring an additional 1,124 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays boosted their price objective on shares of Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Robert W. Baird set a $39.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Citigroup upped their price objective on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. dropped their price objective on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.73.

Gates Industrial Price Performance

NYSE GTES opened at $22.87 on Tuesday. The business has a 50 day simple moving average of $24.85 and a 200 day simple moving average of $24.04. Gates Industrial Corporation PLC has a 52-week low of $14.70 and a 52-week high of $28.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.42 and a current ratio of 3.37. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 23.58 and a beta of 1.22.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts anticipate 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.