Gates Industrial (NYSE:GTES) Director Sells $148,800.00 in Stock

Gates Industrial Corporation PLC (NYSE:GTES) Director Peifang Zhang sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $29.76, for a total value of $148,800.00. Following the sale, the director directly owned 56,044 shares of the company’s stock, valued at $1,667,869.44. This trade represents a 8.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Peifang Zhang also recently made the following trade(s):

• On Wednesday, August 5th, Peifang Zhang sold 6,000 shares of Gates Industrial stock. The shares were sold at an average price of $29.56, for a total value of $177,360.00.

Gates Industrial Trading Down 1.0%

Shares of NYSE GTES opened at $28.31 on Friday. The business has a 50 day simple moving average of $27.07 and a 200 day simple moving average of $25.61. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $30.34. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of 20.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $941.60 million for the quarter, compared to the consensus estimate of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. Gates Industrial’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, research analysts predict that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Gates Industrial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in shares of Gates Industrial during the fourth quarter worth approximately $26,000. Transamerica Financial Advisors LLC increased its position in Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after acquiring an additional 539 shares during the period. Fifth Third Bancorp increased its position in Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after acquiring an additional 514 shares during the period. Parallel Advisors LLC raised its stake in Gates Industrial by 37.7% during the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after purchasing an additional 694 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Gates Industrial by 273.2% during the 2nd 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. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GTES shares. KeyCorp upped their price target on Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday. Wolfe Research reissued an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a research note on Thursday, July 9th. Royal Bank Of Canada boosted their target price on Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Wells Fargo & Company upped their target price on Gates Industrial from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. increased their price target on Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.00.

About Gates Industrial

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.