Gates Industrial Corporation PLC $GTES Shares Newly Bought by Cooke & Bieler LP

Cooke & Bieler LP bought a new position in shares of Gates Industrial Corporation PLC (NYSE:GTES) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 353,250 shares of the company’s stock, valued at approximately $9,255,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in shares of Gates Industrial by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock valued at $261,040,000 after acquiring an additional 295,706 shares during the period. Janus Henderson Group PLC grew its stake in Gates Industrial by 3.8% during the 1st quarter. Janus Henderson Group PLC now owns 5,230,159 shares of the company’s stock valued at $118,252,000 after purchasing an additional 193,896 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Gates Industrial by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 2,346,443 shares of the company’s stock worth $53,053,000 after purchasing an additional 38,645 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Gates Industrial by 62.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,251,585 shares of the company’s stock valued at $50,908,000 after acquiring an additional 868,734 shares during the period. Finally, Quantinno Capital Management LP increased its stake in shares of Gates Industrial by 12.3% in the 1st quarter. Quantinno Capital Management LP now owns 2,101,565 shares of the company’s stock valued at $47,516,000 after purchasing an additional 230,147 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. KeyCorp lifted their price target on Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Wall Street Zen cut shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 10th. Citigroup increased their price objective on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their target price 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, JPMorgan Chase & Co. lifted their target price on shares of Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.45.

Insider Buying and Selling

In other news, Director Peifang Zhang sold 6,000 shares of Gates Industrial 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 sale, the director owned 44,044 shares in the company, valued at $1,301,940.64. This trade represents a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.

Gates Industrial Stock Performance

Gates Industrial stock opened at $26.71 on Thursday. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $30.34. The stock has a fifty day moving average price of $26.29 and a 200 day moving average price of $26.26. The firm has a market capitalization of $6.76 billion, a P/E ratio of 18.94 and a beta of 1.28. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Friday, July 31st. The company reported $0.44 earnings per share (EPS) 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 analysts’ expectations of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Equities research analysts anticipate that Gates Industrial Corporation PLC will post 1.58 earnings per share for the current year.

About Gates Industrial

Gates Industrial Corporation plc (NYSE: GTES) is a manufacturer of engineered power transmission and fluid power products. The company develops solutions designed to transfer power, control motion, and manage the flow of fluids in industrial and mobile applications.

Its product portfolio includes synchronous and V-belts, belt drives, hoses, hydraulic assemblies, couplings, tensioners, pulleys, and related components. Gates serves original equipment manufacturers, distributors, and aftermarket customers across industries such as automotive, agriculture, construction, energy, manufacturing, and general industrial equipment.

The company traces its roots to the Gates Rubber Company, founded in 1911 in Denver, Colorado.