Granahan Investment Management LLC Reduces Holdings in Gates Industrial Corporation PLC $GTES

Granahan Investment Management LLC lowered its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 774,604 shares of the company’s stock after selling 60,119 shares during the period. Granahan Investment Management LLC owned about 0.31% of Gates Industrial worth $17,514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GTES. Paradice Investment Management LLC lifted its stake in Gates Industrial by 8.1% in the 4th quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock valued at $27,746,000 after buying an additional 97,382 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Gates Industrial by 5.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock worth $312,578,000 after buying an additional 717,353 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Gates Industrial by 46.7% in the fourth quarter. SG Americas Securities LLC now owns 70,186 shares of the company’s stock worth $1,507,000 after acquiring an additional 22,338 shares during the last quarter. Van Berkom & Associates Inc. acquired a new position in shares of Gates Industrial in the fourth quarter worth $68,614,000. Finally, Impax Asset Management Group plc lifted its position in shares of Gates Industrial by 48.8% in the fourth quarter. Impax Asset Management Group plc now owns 472,713 shares of the company’s stock valued at $10,149,000 after acquiring an additional 155,000 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Royal Bank Of Canada increased their price objective on Gates Industrial from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Barclays reduced their target price on shares of 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 lowered their price target on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Wolfe Research reissued an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, June 29th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Gates Industrial presently has an average rating of “Moderate Buy” and a consensus target price of $31.36.

Gates Industrial Stock Performance

NYSE:GTES opened at $26.89 on Friday. The company has a market cap of $6.83 billion, a P/E ratio of 28.01 and a beta of 1.25. The firm’s 50 day moving average is $26.47 and its two-hundred day moving average is $25.25. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $29.17. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61.

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. The business had revenue of $851.10 million during 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 business’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts expect that Gates Industrial Corporation PLC will post 1.53 EPS for the current 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.