Diamond Hill Capital Management LLC Investment Advisor Acquires Shares of 755,890 Gates Industrial Corporation PLC $GTES

Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Gates Industrial Corporation PLC (NYSE:GTES) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 755,890 shares of the company’s stock, valued at approximately $21,142,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.30% of Gates Industrial at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new stake in Gates Industrial in the 4th quarter valued at $26,000. Transamerica Financial Advisors LLC grew its position in Gates Industrial by 51.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after acquiring an additional 539 shares during the period. Fifth Third Bancorp raised its stake in Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock worth $37,000 after acquiring an additional 514 shares in the last quarter. Parallel Advisors LLC raised its stake in Gates Industrial by 37.7% during the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after acquiring an additional 694 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Gates Industrial by 273.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after acquiring an additional 2,131 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total transaction of $177,360.00. Following the sale, the director owned 44,044 shares of the company’s stock, valued at $1,301,940.64. This represents a 11.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Royal Bank Of Canada increased their target price on shares of 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 raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Robert W. Baird boosted their price target on shares of Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Gates Industrial Trading Down 0.0%

GTES stock opened at $27.75 on Monday. The business has a fifty day moving average price of $27.27 and a 200 day moving average price of $25.80. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $30.34. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 19.68 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last announced its earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $927.28 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Analysts expect that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

Gates Industrial 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.