Gates Industrial Corporation PLC $GTES Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC reduced its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,432,133 shares of the company’s stock after selling 46,334 shares during the period. Gates Industrial comprises about 0.8% of Kennedy Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Kennedy Capital Management LLC’s holdings in Gates Industrial were worth $35,546,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Gates Industrial by 1.0% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 52,700 shares of the company’s stock worth $1,308,000 after buying an additional 500 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Gates Industrial by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,612 shares of the company’s stock worth $338,000 after acquiring an additional 565 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Gates Industrial by 2.4% in the 3rd quarter. Tectonic Advisors LLC now owns 24,762 shares of the company’s stock worth $615,000 after acquiring an additional 572 shares in the last quarter. Allworth Financial LP raised its position in 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 purchasing an additional 630 shares during the last quarter. Finally, Highland Capital Management LLC boosted its stake in Gates Industrial by 1.2% in the third quarter. Highland Capital Management LLC now owns 52,900 shares of the company’s stock worth $1,313,000 after purchasing an additional 650 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Trading Down 1.9%

NYSE GTES traded down $0.43 during trading hours on Friday, hitting $22.74. The company’s stock had a trading volume of 102,891 shares, compared to its average volume of 2,510,616. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $28.47. The firm has a market capitalization of $5.77 billion, a P/E ratio of 23.41 and a beta of 1.23. 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 stock has a fifty day moving average of $24.83 and a 200 day moving average of $24.11.

Gates Industrial (NYSE:GTES) last issued its earnings results on Thursday, February 12th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company had revenue of $856.20 million during the quarter, compared to analysts’ expectations of $853.35 million. During the same quarter in the previous year, the company posted $0.36 EPS. The business’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. Equities research analysts forecast that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GTES. UBS Group restated a “buy” rating and set a $33.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Morgan Stanley upped their price target on shares of Gates Industrial from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Robert W. Baird set a $39.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Gates Industrial has an average rating of “Moderate Buy” and an average target price of $30.73.

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.