Seizert Capital Partners LLC Purchases 3,740 Shares of Gates Industrial Corporation PLC $GTES

Seizert Capital Partners LLC lifted its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 2.3% during the second quarter, Holdings Channel reports. The institutional investor owned 168,465 shares of the company’s stock after purchasing an additional 3,740 shares during the period. Seizert Capital Partners LLC’s holdings in Gates Industrial were worth $3,880,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Allworth Financial LP increased its stake in Gates Industrial by 43.0% in 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 in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Gates Industrial by 0.8% in the second quarter. Assenagon Asset Management S.A. now owns 121,868 shares of the company’s stock worth $2,807,000 after acquiring an additional 908 shares during the period. Park Avenue Securities LLC grew its position in shares of Gates Industrial by 1.9% during the second quarter. Park Avenue Securities LLC now owns 50,414 shares of the company’s stock worth $1,161,000 after purchasing an additional 940 shares in the last quarter. Oliver Luxxe Assets LLC grew its position in shares of Gates Industrial by 1.0% during the second quarter. Oliver Luxxe Assets LLC now owns 102,338 shares of the company’s stock worth $2,357,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Gates Industrial by 2.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,209 shares of the company’s stock valued at $1,271,000 after purchasing an additional 1,316 shares during the period. Institutional investors own 98.50% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Lawrence B. Mallard sold 22,188 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $22.77, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GTES. JPMorgan Chase & Co. dropped their price target on Gates Industrial from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Industrial Alliance Securities set a $35.00 target price on shares of Gates Industrial in a report on Monday, August 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a research report on Wednesday, October 8th. UBS Group reduced their price target on shares of Gates Industrial from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, KeyCorp reiterated an “overweight” rating and issued a $30.00 price target (up previously from $26.00) on shares of Gates Industrial in a research note on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Gates Industrial has an average rating of “Moderate Buy” and a consensus target price of $27.17.

Gates Industrial Stock Down 0.9%

Shares of NYSE GTES opened at $21.20 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 2.50 and a debt-to-equity ratio of 0.61. Gates Industrial Corporation PLC has a 12-month low of $14.70 and a 12-month high of $26.46. The firm’s 50-day moving average price is $24.40 and its 200-day moving average price is $23.73. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 23.29 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $855.70 million for 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%.The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. On average, equities research analysts anticipate that Gates Industrial Corporation PLC will post 1.36 EPS 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.