WINTON GROUP Ltd Cuts Stock Holdings in Gates Industrial Corporation PLC $GTES

WINTON GROUP Ltd lowered its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 51.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,802 shares of the company’s stock after selling 65,922 shares during the quarter. WINTON GROUP Ltd’s holdings in Gates Industrial were worth $1,729,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC bought a new position in Gates Industrial during the 1st quarter valued at $381,000. Creative Planning boosted its holdings in Gates Industrial by 53.9% during the 2nd quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after acquiring an additional 5,404 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Gates Industrial by 52.7% in the 2nd quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock worth $389,000 after acquiring an additional 6,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after purchasing an additional 2,131 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Gates Industrial by 8.6% in the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after purchasing an additional 937 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Trading Up 1.7%

NYSE GTES opened at $26.05 on Friday. The stock has a market capitalization of $6.60 billion, a price-to-earnings ratio of 18.48 and a beta of 1.26. Gates Industrial Corporation PLC has a one year low of $20.88 and a one year high of $30.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. The business’s fifty day moving average is $26.72 and its 200-day moving average is $25.82.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Equities research analysts predict that Gates Industrial Corporation PLC will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GTES. Citigroup raised their price target on shares of Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Morgan Stanley lifted their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. KeyCorp boosted their target price on Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Royal Bank Of Canada upped their target price on Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.45.

Insiders Place Their Bets

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the transaction, the director directly owned 44,044 shares in the company, valued at $1,301,940.64. The trade was a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by insiders.

About Gates Industrial

Gates Industrial Corporation plc (NYSE: GTES) is a global manufacturer of power transmission and fluid power products. The company supplies engineered components used to transfer motion and power, control the flow of fluids, and manage industrial and automotive systems.

Its product portfolio includes synchronous and V-belts, belt drives, hydraulic and industrial hose systems, couplings, tensioners, pulleys, and related replacement and maintenance products. Gates serves original equipment manufacturers and aftermarket customers across industries such as industrial machinery, energy, transportation, agriculture, construction, and automotive.

Gates traces its history to 1911, when Charles Gates acquired a Colorado tire and rubber company.