Sterling Capital Management LLC Has $192,000 Stock Position in Gates Industrial Corporation PLC $GTES

Sterling Capital Management LLC reduced its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 91.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,507 shares of the company’s stock after selling 91,801 shares during the quarter. Sterling Capital Management LLC’s holdings in Gates Industrial were worth $192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Gates Industrial by 98.7% in the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares in the last quarter. Norges Bank bought a new position in shares of Gates Industrial in the 4th quarter valued at about $74,843,000. Van Berkom & Associates Inc. acquired a new stake in shares of Gates Industrial in the fourth quarter valued at about $68,614,000. Adage Capital Partners GP L.L.C. bought a new stake in Gates Industrial during the second quarter worth about $32,255,000. Finally, Nuveen LLC boosted its position in Gates Industrial by 280.0% during the fourth quarter. Nuveen LLC now owns 1,725,274 shares of the company’s stock valued at $37,042,000 after purchasing an additional 1,271,248 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GTES. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Morgan Stanley boosted their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Barclays dropped their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Robert W. Baird cut their price target on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Gates Industrial Stock Performance

GTES traded down $1.07 during trading hours on Tuesday, reaching $26.08. The company’s stock had a trading volume of 42,517 shares, compared to its average volume of 2,311,222. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $29.17. The company’s 50-day moving average is $26.19 and its 200-day moving average is $24.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. The firm has a market cap of $6.62 billion, a PE ratio of 27.12 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Friday, May 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. During the same period in the previous year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities analysts forecast that Gates Industrial Corporation PLC will post 1.55 EPS for the current year.

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.