Royal Bank of Canada Reduces Holdings in Gates Industrial Corporation PLC $GTES

Royal Bank of Canada trimmed its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 22.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 489,492 shares of the company’s stock after selling 141,031 shares during the quarter. Royal Bank of Canada’s holdings in Gates Industrial were worth $11,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new stake in Gates Industrial in the fourth quarter valued at approximately $26,000. Transamerica Financial Advisors LLC grew its holdings in shares of Gates Industrial by 51.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Gates Industrial by 46.3% in the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after buying an additional 514 shares during the period. Parallel Advisors LLC increased its stake in shares of Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after buying an additional 694 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 buying an additional 2,131 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GTES has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Wall Street Zen raised shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Royal Bank Of Canada increased their target price on shares of Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. KeyCorp raised their target price on Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Wolfe Research restated an “outperform” rating and set a $33.00 price target on shares of Gates Industrial in a report on Thursday, July 9th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $33.00.

Insider Transactions at Gates Industrial

In related news, Director Peifang Zhang sold 6,000 shares of the stock in a transaction dated 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 directly owned 44,044 shares of the company’s stock, valued at approximately $1,301,940.64. This represents a 11.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by insiders.

Gates Industrial Stock Down 1.0%

Shares of NYSE:GTES opened at $28.31 on Friday. The firm has a market capitalization of $7.17 billion, a P/E ratio of 20.08 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. The stock has a 50 day moving average price of $27.07 and a 200-day moving average price of $25.61. Gates Industrial Corporation PLC has a 52-week low of $20.88 and a 52-week high of $30.34.

Gates Industrial (NYSE:GTES) last released its earnings results 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. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. During the same period last year, the business earned $0.39 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. As a group, equities research analysts anticipate that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

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.