Geode Capital Management LLC Boosts Holdings in Gates Industrial Corporation PLC $GTES

Geode Capital Management LLC lifted its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 1.9% in the 4th quarter, HoldingsChannel reports. The firm owned 4,417,046 shares of the company’s stock after buying an additional 83,980 shares during the quarter. Geode Capital Management LLC’s holdings in Gates Industrial were worth $94,857,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van Berkom & Associates Inc. purchased a new stake in Gates Industrial in the fourth quarter worth $68,614,000. Adage Capital Partners GP L.L.C. purchased a new stake in Gates Industrial in the second quarter worth $32,255,000. Vanguard Group Inc. grew its stake in Gates Industrial by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock worth $664,019,000 after purchasing an additional 1,281,339 shares during the period. Franklin Resources Inc. grew its stake in Gates Industrial by 22.3% in the third quarter. Franklin Resources Inc. now owns 6,923,169 shares of the company’s stock worth $171,833,000 after purchasing an additional 1,261,849 shares during the period. Finally, UBS Group AG grew its stake in Gates Industrial by 39.9% in the fourth quarter. UBS Group AG now owns 3,779,304 shares of the company’s stock worth $81,142,000 after purchasing an additional 1,077,409 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Stock Down 1.9%

GTES stock opened at $25.62 on Friday. Gates Industrial Corporation PLC has a 1-year low of $20.88 and a 1-year high of $28.47. The business has a fifty day moving average price of $24.80 and a 200-day moving average price of $24.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66. The stock has a market capitalization of $6.51 billion, a P/E ratio of 26.69 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The firm had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. The company’s revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Equities analysts forecast that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GTES shares. Robert W. Baird reduced their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Wall Street Zen cut Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. Weiss Ratings cut Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. Finally, UBS Group reaffirmed a “buy” rating and issued a $33.00 price target on shares of Gates Industrial in a research note on Friday, February 13th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $31.00.

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.