Gates Industrial Corporation PLC $GTES Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lessened its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,087,544 shares of the company’s stock after selling 30,012 shares during the period. Gates Industrial comprises approximately 1.2% of Leeward Investments LLC MA’s investment portfolio, making the stock its 13th largest holding. Leeward Investments LLC MA’s holdings in Gates Industrial were worth $24,589,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GTES. Empowered Funds LLC purchased a new position in shares of Gates Industrial in the 1st quarter valued at about $381,000. Creative Planning grew its holdings in Gates Industrial by 53.9% in the second quarter. Creative Planning now owns 15,435 shares of the company’s stock valued at $355,000 after purchasing an additional 5,404 shares during the period. Prudential Financial Inc. grew its holdings in Gates Industrial by 52.7% in the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after purchasing an additional 6,190 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Gates Industrial by 273.2% in the second 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 in the last quarter. Finally, M&T Bank Corp raised its stake in shares of 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. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Trading Down 4.5%

GTES opened at $27.23 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.67 and a quick ratio of 2.66. The company’s 50 day simple moving average is $25.80 and its two-hundred day simple moving average is $24.44. Gates Industrial Corporation PLC has a 1-year low of $20.88 and a 1-year high of $28.59. The firm has a market capitalization of $6.92 billion, a price-to-earnings ratio of 28.36 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.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 prior year, the business earned $0.36 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts expect that Gates Industrial Corporation PLC will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GTES. Wall Street Zen cut shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Robert W. Baird decreased their price objective on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Morgan Stanley boosted their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. 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. Finally, Barclays decreased their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Gates Industrial presently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.