Gates Industrial (NYSE:GTES) CFO Sells $505,220.76 in Stock

Gates Industrial Corporation PLC (NYSE:GTES) CFO Lawrence Mallard sold 22,188 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $22.77, for a total transaction of $505,220.76. Following the sale, the chief financial officer owned 177,627 shares of the company’s stock, valued at $4,044,566.79. This trade represents a 11.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gates Industrial Price Performance

NYSE:GTES opened at $22.08 on Friday. The company has a quick ratio of 2.50, a current ratio of 3.52 and a debt-to-equity ratio of 0.61. The firm has a market cap of $5.70 billion, a PE ratio of 24.26 and a beta of 1.25. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $26.46. The company’s 50-day moving average price is $24.56 and its two-hundred day moving average price is $23.67.

Gates Industrial (NYSE:GTES) last posted its 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 during the quarter, compared to analysts’ expectations of $860.95 million. Gates Industrial had a net margin of 6.93% and a return on equity of 10.38%. Gates Industrial’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. On average, equities analysts anticipate that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays reissued an “overweight” rating and issued a $28.00 price objective (up previously from $26.00) on shares of Gates Industrial in a research note on Monday, August 4th. Wells Fargo & Company initiated coverage on shares of Gates Industrial in a research report on Thursday. They set an “equal weight” rating and a $23.00 price target on the stock. UBS Group decreased their price objective 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. Zacks Research cut shares of Gates Industrial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Finally, Industrial Alliance Securities set a $35.00 target price on shares of Gates Industrial in a research report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and a consensus target price of $27.17.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. 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. SVB Wealth LLC bought a new position in Gates Industrial in the first quarter valued at approximately $34,000. Allworth Financial LP grew its holdings in Gates Industrial by 43.0% during the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock worth $48,000 after acquiring an additional 630 shares during the period. SJS Investment Consulting Inc. raised its position in shares of Gates Industrial by 5,123.7% during 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 last quarter. Finally, Quent Capital LLC bought a new stake in shares of Gates Industrial during the 3rd quarter valued at $51,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Company 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.