Gates Industrial Corporation PLC $GTES Shares Sold by Fiduciary Management Inc. WI

Fiduciary Management Inc. WI cut its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 6.1% in the fourth quarter, Holdings Channel reports. The firm owned 6,954,532 shares of the company’s stock after selling 449,016 shares during the period. Fiduciary Management Inc. WI’s holdings in Gates Industrial were worth $149,314,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in Gates Industrial during the 1st quarter valued at approximately $381,000. Creative Planning lifted its stake in Gates Industrial by 53.9% during the 2nd quarter. Creative Planning now owns 15,435 shares of the company’s stock valued at $355,000 after acquiring an additional 5,404 shares during the period. Prudential Financial Inc. lifted its stake in Gates Industrial by 52.7% during the 2nd quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after acquiring an additional 6,190 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Gates Industrial by 273.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after acquiring an additional 2,131 shares during the period. Finally, M&T Bank Corp lifted its stake in Gates Industrial by 8.6% during the 2nd quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after acquiring an additional 937 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Trading Down 1.9%

Shares of GTES opened at $25.62 on Friday. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61. Gates Industrial Corporation PLC has a 12-month low of $20.88 and a 12-month high of $28.47. The firm has a 50-day moving average price of $24.80 and a 200 day moving average price of $24.00. The firm has a market capitalization of $6.51 billion, a P/E ratio of 26.69 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The firm had revenue of $851.10 million during the quarter, compared to analyst estimates of $859.72 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Gates Industrial’s quarterly revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Sell-side analysts forecast that Gates Industrial Corporation PLC will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on GTES shares. Citigroup lifted their price objective on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Weiss Ratings lowered shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Morgan Stanley upped their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, Robert W. Baird dropped their target price 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. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

About Gates Industrial

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.