10,270 Shares in Gates Industrial Corporation PLC $GTES Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC acquired a new position in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the second quarter, HoldingsChannel reports. The firm acquired 10,270 shares of the company’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC acquired a new stake in shares of Gates Industrial during the first quarter worth $34,000. Steph & Co. acquired a new stake in shares of Gates Industrial during the second quarter worth $70,000. Avanza Fonder AB acquired a new stake in shares of Gates Industrial during the first quarter worth $145,000. Aaron Wealth Advisors LLC acquired a new stake in shares of Gates Industrial during the second quarter worth $205,000. Finally, GAMMA Investing LLC raised its holdings in shares of Gates Industrial by 81.0% during the first quarter. GAMMA Investing LLC now owns 9,099 shares of the company’s stock worth $168,000 after acquiring an additional 4,073 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on GTES. Barclays reaffirmed an “overweight” rating and issued a $28.00 target price (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. Royal Bank Of Canada raised their target price on shares of Gates Industrial from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. KeyCorp reaffirmed an “overweight” rating and issued a $30.00 target price (up previously from $26.00) on shares of Gates Industrial in a research report on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a research report on Wednesday. Finally, Industrial Alliance Securities set a $35.00 target price on shares of Gates Industrial in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Gates Industrial has an average rating of “Moderate Buy” and a consensus target price of $28.18.

Gates Industrial Stock Down 3.3%

Gates Industrial stock opened at $24.46 on Friday. The firm has a market capitalization of $6.30 billion, a PE ratio of 31.36 and a beta of 1.25. The company’s 50-day moving average is $25.09 and its 200-day moving average is $22.49. Gates Industrial Corporation PLC has a fifty-two week low of $14.70 and a fifty-two week high of $26.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.46 and a quick ratio of 2.46.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $883.70 million for the quarter, compared to analyst estimates of $873.34 million. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. Gates Industrial’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.