Vise Technologies Inc. Acquires Shares of 9,184 Gates Industrial Corporation PLC $GTES

Vise Technologies Inc. bought a new position in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,184 shares of the company’s stock, valued at approximately $212,000.

A number of other large investors have also modified their holdings of GTES. Allworth Financial LP lifted its stake in shares of Gates Industrial by 43.0% in the second 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. grew its stake in Gates Industrial by 0.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 121,868 shares of the company’s stock valued at $2,807,000 after acquiring an additional 908 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Gates Industrial by 1.9% in the 2nd quarter. Park Avenue Securities LLC now owns 50,414 shares of the company’s stock valued at $1,161,000 after acquiring an additional 940 shares during the last quarter. Oliver Luxxe Assets LLC lifted its stake in Gates Industrial by 1.0% in the 2nd 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. boosted its holdings in shares of Gates Industrial by 2.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 55,209 shares of the company’s stock worth $1,271,000 after purchasing an additional 1,316 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling at Gates Industrial

In other news, CFO Lawrence B. Mallard sold 22,188 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $22.77, for a total value of $505,220.76. Following the sale, the chief financial officer directly owned 177,627 shares of the company’s stock, valued at approximately $4,044,566.79. The trade was a 11.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Gates Industrial Price Performance

NYSE:GTES opened at $21.20 on Wednesday. Gates Industrial Corporation PLC has a 52 week low of $14.70 and a 52 week high of $26.46. The stock’s fifty day moving average is $24.40 and its two-hundred day moving average is $23.73. The company has a market capitalization of $5.47 billion, a P/E ratio of 23.29 and a beta of 1.25. The company has a quick ratio of 2.50, a current ratio of 3.52 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $855.70 million during the quarter, compared to the consensus estimate of $860.95 million. Gates Industrial had a return on equity of 10.38% and a net margin of 6.93%.The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned $0.33 EPS. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. Equities analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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 report on Thursday, October 30th. Citigroup dropped their target price on Gates Industrial from $31.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Royal Bank Of Canada cut their target price on Gates Industrial from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. 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, UBS Group cut their price objective on shares of Gates Industrial from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.17.

About Gates Industrial

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.