Gates Industrial Corporation PLC $GTES Shares Sold by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC trimmed its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 39.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,335 shares of the company’s stock after selling 41,825 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Gates Industrial were worth $1,771,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new stake in Gates Industrial during the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC grew its stake in shares of Gates Industrial by 51.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of Gates Industrial by 46.3% in the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after purchasing an additional 514 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Gates Industrial by 37.7% during the first 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 period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Gates Industrial by 273.2% during 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 in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GTES shares. Citigroup upped their price objective on shares of Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Royal Bank Of Canada boosted their price target on shares of Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Robert W. Baird upped their price target on shares of Gates Industrial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Wells Fargo & Company increased their price objective on shares of Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Insider Buying and Selling

In related news, Director Peifang Zhang sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the completion of the sale, the director directly owned 44,044 shares in the company, valued at approximately $1,301,940.64. This trade represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $28.31 on Monday. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $30.34. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58. The stock has a market cap of $7.17 billion, a PE ratio of 20.08 and a beta of 1.25. The company’s 50-day moving average price is $27.07 and its two-hundred day moving average price is $25.63.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings data 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. The company had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

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.