Savant Capital LLC Sells 117,815 Shares of Gates Industrial Corporation PLC $GTES

Savant Capital LLC lowered its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 89.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,338 shares of the company’s stock after selling 117,815 shares during the period. Savant Capital LLC’s holdings in Gates Industrial were worth $286,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC acquired a new stake in shares of Gates Industrial during the 1st quarter worth approximately $381,000. Creative Planning lifted its position in shares of 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. boosted its stake in Gates Industrial by 52.7% during the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock worth $389,000 after acquiring an additional 6,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Gates Industrial by 273.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after acquiring an additional 2,131 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in Gates Industrial by 8.6% in the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock worth $272,000 after purchasing an additional 937 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on GTES. Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Robert W. Baird reduced their target price on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Barclays decreased their target price on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a report on Friday, February 13th. Finally, Morgan Stanley raised their price objective on Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Gates Industrial Stock Down 1.9%

Gates Industrial stock opened at $25.62 on Friday. Gates Industrial Corporation PLC has a 1-year low of $20.88 and a 1-year high of $28.47. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 26.69 and a beta of 1.27. The firm’s fifty day moving average price is $24.80 and its two-hundred day moving average price is $24.00. 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 (NYSE:GTES) last posted its earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The company had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities research analysts predict that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current fiscal year.

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.