Wedge Capital Management L L P NC Grows Stock Holdings in Gates Industrial Corporation PLC $GTES

Wedge Capital Management L L P NC increased its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 5.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 678,551 shares of the company’s stock after purchasing an additional 32,065 shares during the period. Wedge Capital Management L L P NC owned approximately 0.27% of Gates Industrial worth $18,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the stock. Legacy Wealth Asset Management LLC purchased a new position in Gates Industrial during the second quarter valued at approximately $206,000. Gradient Investments LLC purchased a new position in Gates Industrial during the second quarter worth approximately $862,000. GAMMA Investing LLC boosted its stake in Gates Industrial by 32.0% during the second quarter. GAMMA Investing LLC now owns 15,425 shares of the company’s stock worth $431,000 after buying an additional 3,741 shares during the last quarter. Parallel Advisors LLC boosted 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 buying an additional 694 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Gates Industrial by 13.7% in the 1st quarter. Bank of America Corp DE now owns 1,920,689 shares of the company’s stock worth $43,427,000 after acquiring an additional 230,836 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

GTES has been the topic of several recent research reports. Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. KeyCorp boosted their target price on shares of Gates Industrial from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price target on shares of Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Citigroup upped their price objective on Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Finally, Robert W. Baird lifted their target price on Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.00.

Insider Buying and Selling

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 44,044 shares of the company’s stock, valued at $1,301,940.64. This trade represents a 11.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.80% of the stock is owned by corporate insiders.

Gates Industrial Stock Up 0.4%

Shares of NYSE:GTES opened at $28.52 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. The firm has a market capitalization of $7.22 billion, a PE ratio of 20.23 and a beta of 1.25. The firm’s 50-day moving average is $27.16 and its two-hundred day moving average is $25.70. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $30.34.

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