Gates Industrial Corporation PLC $GTES Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 17.2% in the 4th quarter, Holdings Channel reports. The firm owned 220,857 shares of the company’s stock after buying an additional 32,419 shares during the period. State of Alaska Department of Revenue’s holdings in Gates Industrial were worth $4,741,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its stake in Gates Industrial by 133.2% during the third quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 666 shares during the last quarter. SJS Investment Consulting Inc. lifted its stake in Gates Industrial by 5,123.7% during the third quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after purchasing an additional 1,947 shares during the last quarter. Quent Capital LLC acquired a new stake in Gates Industrial during the third quarter valued at approximately $51,000. Avanza Fonder AB lifted its stake in Gates Industrial by 85.3% during the third quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock valued at $61,000 after purchasing an additional 1,124 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in Gates Industrial by 38.1% during the third quarter. Assetmark Inc. now owns 2,448 shares of the company’s stock valued at $61,000 after purchasing an additional 676 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Gates Industrial Stock Performance

Shares of GTES opened at $24.88 on Thursday. The company’s fifty day moving average is $24.95 and its 200-day moving average is $23.72. Gates Industrial Corporation PLC has a 12 month low of $16.27 and a 12 month high of $28.47. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 25.65 and a beta of 1.28. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. During the same quarter in the prior year, the business posted $0.36 EPS. Gates Industrial’s quarterly revenue was up 3.2% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities analysts expect that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Analyst Ratings Changes

GTES has been the subject of several recent research reports. Barclays cut their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Robert W. Baird set a $39.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Citigroup increased their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. UBS Group restated a “buy” rating and issued a $33.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Finally, Morgan Stanley raised their price objective on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 11th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Gates Industrial currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.36.

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.