Maverick Capital Ltd. Invests $846,000 in Gates Industrial Corporation PLC $GTES

Maverick Capital Ltd. acquired a new stake in Gates Industrial Corporation PLC (NYSE:GTES) during the 1st quarter, Holdings Channel.com reports. The firm acquired 37,398 shares of the company’s stock, valued at approximately $846,000.

Other large investors have also made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in Gates Industrial during the 4th quarter worth about $26,000. Transamerica Financial Advisors LLC raised its stake in Gates Industrial by 51.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Gates Industrial by 37.7% in the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after purchasing an additional 694 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Gates Industrial by 273.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after purchasing an additional 2,131 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Robert W. Baird lowered their price target on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Wolfe Research reissued an “outperform” rating and set a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Gates Industrial from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Finally, Morgan Stanley boosted their price target on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Gates Industrial currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.36.

Gates Industrial Stock Down 0.2%

GTES opened at $26.49 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 27.59 and a beta of 1.25. The business has a 50-day moving average of $26.58 and a two-hundred day moving average of $25.33. Gates Industrial Corporation PLC has a 12 month low of $20.88 and a 12 month high of $29.17.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The business had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period in the prior year, the firm posted $0.36 EPS. The company’s revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, research analysts expect that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current 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.