KLCM Advisors Inc. Trims Stake in Gates Industrial Corporation PLC $GTES

KLCM Advisors Inc. lessened its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 675,733 shares of the company’s stock after selling 31,342 shares during the period. Gates Industrial makes up 1.7% of KLCM Advisors Inc.’s investment portfolio, making the stock its 12th largest position. KLCM Advisors Inc. owned 0.26% of Gates Industrial worth $16,772,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Empowered Funds LLC acquired a new position in Gates Industrial in the first quarter valued at about $381,000. Bank of Montreal Can increased its position in shares of Gates Industrial by 2.8% during the second quarter. Bank of Montreal Can now owns 67,005 shares of the company’s stock valued at $1,543,000 after acquiring an additional 1,800 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Gates Industrial in the 2nd quarter valued at approximately $974,000. Allworth Financial LP raised its stake in shares of Gates Industrial by 43.0% in the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock valued at $48,000 after acquiring an additional 630 shares during the period. Finally, Vise Technologies Inc. acquired a new position in shares of Gates Industrial in the 2nd quarter worth approximately $212,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

NYSE:GTES opened at $23.87 on Thursday. Gates Industrial Corporation PLC has a 52 week low of $14.70 and a 52 week high of $28.47. The company has a fifty day simple moving average of $24.79 and a two-hundred day simple moving average of $24.11. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 24.61 and a beta of 1.23.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. Gates Industrial had a return on equity of 10.36% and a net margin of 7.30%.The business had revenue of $856.20 million for the quarter, compared to analysts’ expectations of $853.35 million. During the same period last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities analysts anticipate that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on GTES shares. JPMorgan Chase & Co. cut their target price on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, December 29th. Robert W. Baird set a $39.00 price objective on Gates Industrial in a report on Friday, February 13th. UBS Group reissued a “buy” rating and set a $33.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Finally, Barclays raised their target price on Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.73.

Gates Industrial 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.