Franklin Resources Inc. Grows Holdings in Gates Industrial Corporation PLC $GTES

Franklin Resources Inc. increased its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,305,065 shares of the company’s stock after buying an additional 381,896 shares during the period. Franklin Resources Inc.’s holdings in Gates Industrial were worth $156,840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTES. Empowered Funds LLC purchased a new stake in Gates Industrial during the 1st quarter worth $381,000. Creative Planning increased its stake in Gates Industrial by 53.9% during the 2nd quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after buying an additional 5,404 shares during the period. Prudential Financial Inc. increased 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 worth $389,000 after buying an additional 6,190 shares during the period. Northwestern Mutual Wealth Management Co. increased 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 worth $67,000 after buying an additional 2,131 shares during the period. Finally, M&T Bank Corp increased 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 worth $272,000 after buying an additional 937 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Trading Down 4.1%

NYSE GTES opened at $25.32 on Thursday. Gates Industrial Corporation PLC has a one year low of $20.88 and a one year high of $28.47. The company has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $24.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. The firm has a market capitalization of $6.43 billion, a PE ratio of 26.38 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, beating 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 business had revenue of $851.10 million during the quarter, compared to analyst estimates of $859.72 million. During the same period in the previous year, the business posted $0.36 EPS. The company’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. On average, equities analysts forecast that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current year.

Wall Street Analyst Weigh In

GTES has been the subject of several research analyst reports. Barclays dropped their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Weiss Ratings downgraded shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Wall Street Zen downgraded shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 10th. 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 research report on Monday, May 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Gates Industrial in a research report on Friday, February 13th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Gates Industrial presently has a consensus rating of “Moderate Buy” and a consensus target price 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.