Handelsbanken Fonder AB Cuts Position in Gates Industrial Corporation PLC $GTES

Handelsbanken Fonder AB trimmed its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 25.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 633,255 shares of the company’s stock after selling 213,145 shares during the period. Handelsbanken Fonder AB’s holdings in Gates Industrial were worth $17,712,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GTES. Dimensional Fund Advisors LP raised its stake in shares of Gates Industrial by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock valued at $261,040,000 after acquiring an additional 295,706 shares during the period. JPMorgan Chase & Co. increased its holdings in Gates Industrial by 98.7% in the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares in the last quarter. Invesco Ltd. raised its position in Gates Industrial by 5.9% in the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after purchasing an additional 461,160 shares during the period. State Street Corp lifted its stake in shares of Gates Industrial by 3.0% during the fourth quarter. State Street Corp now owns 7,971,572 shares of the company’s stock worth $171,150,000 after purchasing an additional 232,447 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Gates Industrial by 5.5% in the fourth quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock worth $156,840,000 after buying an additional 381,896 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Peifang Zhang sold 6,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total transaction of $177,360.00. Following the transaction, the director directly owned 44,044 shares in the company, valued at $1,301,940.64. This trade represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

GTES has been the subject of a number of recent research reports. Robert W. Baird increased their target price on Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. KeyCorp increased their price objective on shares of Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Wells Fargo & Company boosted their target price on shares of Gates Industrial from $26.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, August 3rd. Finally, Wolfe Research restated an “outperform” rating and issued a $33.00 target price on shares of Gates Industrial in a research note on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $33.00.

Gates Industrial Price Performance

GTES stock opened at $27.89 on Thursday. The company has a quick ratio of 2.36, a current ratio of 3.24 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $27.19 and its two-hundred day moving average is $25.73. The company has a market capitalization of $7.06 billion, a PE ratio of 19.78 and a beta of 1.25. 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 posted its quarterly earnings data on Friday, July 31st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $927.28 million. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Analysts predict that Gates Industrial Corporation PLC will post 1.53 earnings per share 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.