Diversified Management Inc. Sells 74,127 Shares of Gates Industrial Corporation PLC $GTES

Diversified Management Inc. reduced its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 88.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,770 shares of the company’s stock after selling 74,127 shares during the quarter. Diversified Management Inc.’s holdings in Gates Industrial were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GTES. Los Angeles Capital Management LLC acquired a new stake in shares of Gates Industrial in the 4th quarter valued at approximately $26,000. Transamerica Financial Advisors LLC increased its position in Gates Industrial by 51.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after purchasing an additional 539 shares in the last quarter. Fifth Third Bancorp lifted its stake in Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares during the last quarter. Parallel Advisors LLC boosted its position in Gates Industrial by 37.7% in the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock valued at $57,000 after buying an additional 694 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in 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. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

GTES has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Royal Bank Of Canada boosted their price objective on Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. KeyCorp lifted their price target on Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price target on Gates Industrial from $26.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Gates Industrial Stock Down 1.9%

Shares of GTES opened at $27.89 on Thursday. The company has a market capitalization of $7.06 billion, a PE ratio of 19.78 and a beta of 1.25. Gates Industrial Corporation PLC has a 12 month low of $20.88 and a 12 month high of $30.34. The stock’s 50-day moving average price is $27.19 and its two-hundred day moving average price is $25.73. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The company had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $927.28 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, analysts anticipate that Gates Industrial Corporation PLC will post 1.53 EPS for the current year.

Insider Activity

In other news, Director Peifang Zhang sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the sale, the director directly owned 44,044 shares of the company’s stock, valued at approximately $1,301,940.64. This represents a 11.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

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.