Gates Industrial Corporation PLC $GTES Shares Bought by KLCM Advisors Inc.

KLCM Advisors Inc. grew its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 697,861 shares of the company’s stock after buying an additional 32,332 shares during the quarter. Gates Industrial accounts for 1.3% of KLCM Advisors Inc.’s investment portfolio, making the stock its 18th largest holding. KLCM Advisors Inc.’s holdings in Gates Industrial were worth $15,779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GTES. Empowered Funds LLC purchased a new position in Gates Industrial during the first quarter worth about $381,000. Creative Planning increased its position 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 purchasing an additional 5,404 shares during the period. Prudential Financial Inc. raised its stake in shares of 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Gates Industrial by 273.2% in the 2nd 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 during the period. Finally, M&T Bank Corp boosted its stake in shares of Gates Industrial by 8.6% in the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after buying an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GTES. Wolfe Research reiterated an “outperform” rating and issued a $33.00 price objective on shares of Gates Industrial in a research report on Thursday. Robert W. Baird cut their price target on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Morgan Stanley raised their price objective on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. Barclays decreased their price objective on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, June 29th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.18.

Gates Industrial Price Performance

Shares of GTES stock traded up $0.28 during mid-day trading on Friday, reaching $26.32. The stock had a trading volume of 1,435,170 shares, compared to its average volume of 1,949,804. The company has a market cap of $6.68 billion, a P/E ratio of 27.41 and a beta of 1.25. 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 Corporation PLC has a 12-month low of $20.88 and a 12-month high of $29.17. The business has a 50-day simple moving average of $26.25 and a 200 day simple moving average of $24.91.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Friday, May 1st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.55 earnings per share for the current year.

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.