Dimensional Fund Advisors LP Increases Stock Holdings in Gates Industrial Corporation PLC $GTES

Dimensional Fund Advisors LP raised its position in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,546,581 shares of the company's stock after acquiring an additional 295,706 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.55% of Gates Industrial worth $261,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. New York State Teachers Retirement System boosted its stake in shares of Gates Industrial by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 85,748 shares of the company's stock valued at $1,841,000 after purchasing an additional 479 shares during the period. Xponance LLC increased its stake in Gates Industrial by 3.7% during the 4th quarter. Xponance LLC now owns 13,792 shares of the company's stock worth $296,000 after buying an additional 486 shares during the period. Fifth Third Bancorp increased its stake in Gates Industrial by 46.3% during the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company's stock worth $37,000 after buying an additional 514 shares during the period. Glenmede Investment Management LP increased its stake in Gates Industrial by 0.9% during the 3rd quarter. Glenmede Investment Management LP now owns 55,047 shares of the company's stock worth $1,366,000 after buying an additional 514 shares during the period. Finally, Lido Advisors LLC lifted its holdings in Gates Industrial by 3.8% during the 4th quarter. Lido Advisors LLC now owns 14,069 shares of the company's stock worth $302,000 after buying an additional 521 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GTES shares. Barclays decreased their price target on shares of Gates Industrial from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Morgan Stanley upped their price objective on Gates Industrial from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, May 29th. Robert W. Baird reduced their price objective on Gates Industrial from $39.00 to $37.00 and set an "outperform" rating on the stock in a research note on Monday, May 4th. Wolfe Research reiterated an "outperform" rating and issued a $33.00 target price on shares of Gates Industrial in a report on Thursday, July 9th. Finally, Wall Street Zen cut Gates Industrial from a "strong-buy" rating to a "buy" rating in a research note on Sunday, May 10th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.36.

Gates Industrial Stock Up 1.1%

Shares of NYSE:GTES opened at $27.35 on Thursday. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $29.17. The firm's 50 day moving average price is $26.39 and its 200 day moving average price is $25.20. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 28.49 and a beta of 1.25.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The company had revenue of $851.10 million during the quarter, compared to analysts' expectations of $859.72 million. During the same quarter in the previous year, the business posted $0.36 EPS. The firm's revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities research analysts predict that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current fiscal 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.

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