Gates Industrial Corporation PLC $GTES Shares Sold by Castleark Management LLC

Castleark Management LLC trimmed its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 10.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 357,932 shares of the company’s stock after selling 40,520 shares during the period. Castleark Management LLC’s holdings in Gates Industrial were worth $7,685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Gates Industrial by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after acquiring an additional 1,281,339 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Gates Industrial by 5.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock valued at $312,578,000 after acquiring an additional 717,353 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gates Industrial by 3.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,250,875 shares of the company’s stock valued at $241,562,000 after acquiring an additional 400,359 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after acquiring an additional 4,158,341 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in Gates Industrial by 3.0% in the 3rd quarter. Invesco Ltd. now owns 7,861,494 shares of the company’s stock valued at $195,122,000 after acquiring an additional 226,075 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GTES shares. Barclays cut their price objective on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Robert W. Baird cut their price objective on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Royal Bank Of Canada restated an “outperform” rating and set a $31.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Finally, UBS Group restated a “buy” rating and set a $33.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Gates Industrial Price Performance

Shares of GTES opened at $27.06 on Friday. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 28.19 and a beta of 1.27. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $28.47. 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 business’s 50-day moving average is $25.21 and its 200-day moving average is $24.17.

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