Simon Quick Advisors LLC Has $437,000 Holdings in Gates Industrial Corporation PLC $GTES

Simon Quick Advisors LLC boosted its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 52.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,963 shares of the company’s stock after acquiring an additional 6,553 shares during the quarter. Simon Quick Advisors LLC’s holdings in Gates Industrial were worth $437,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Strs Ohio boosted its position in Gates Industrial by 2.2% during the 2nd quarter. Strs Ohio now owns 495,119 shares of the company’s stock worth $11,403,000 after acquiring an additional 10,828 shares during the period. Amalgamated Bank boosted its position in Gates Industrial by 2.2% during the 2nd quarter. Amalgamated Bank now owns 71,019 shares of the company’s stock worth $1,636,000 after acquiring an additional 1,522 shares during the period. Keybank National Association OH boosted its position in Gates Industrial by 7.2% during the 2nd quarter. Keybank National Association OH now owns 36,748 shares of the company’s stock worth $846,000 after acquiring an additional 2,481 shares during the period. Hantz Financial Services Inc. boosted its position in Gates Industrial by 7.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 99,526 shares of the company’s stock worth $2,292,000 after acquiring an additional 6,848 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Gates Industrial by 2.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,133,515 shares of the company’s stock worth $26,105,000 after acquiring an additional 22,586 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Stock Performance

Shares of NYSE GTES opened at $21.99 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.50 and a current ratio of 3.52. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 24.17 and a beta of 1.25. The business’s 50-day simple moving average is $25.28 and its 200-day simple moving average is $23.39. Gates Industrial Corporation PLC has a 52 week low of $14.70 and a 52 week high of $26.46.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $855.70 million for the quarter, compared to analyst estimates of $860.95 million. Gates Industrial had a return on equity of 10.38% and a net margin of 6.93%.The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. As a group, equities research analysts expect that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GTES has been the topic of a number of recent research reports. UBS Group boosted their target price on Gates Industrial from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Royal Bank Of Canada cut their price target on Gates Industrial from $29.00 to $26.00 and set an “outperform” rating for the company in a research note on Thursday. JPMorgan Chase & Co. cut their price target on Gates Industrial from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research note on Wednesday, October 8th. Finally, Barclays reaffirmed an “overweight” rating and set a $28.00 price target (up from $26.00) on shares of Gates Industrial in a research note on Monday, August 4th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.64.

Gates Industrial Company Profile

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.