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

Key Points

• Dimensional Fund Advisors LP reduced its holdings in Gates Industrial Corporation PLC by 5.6%, selling 706,539 shares, and now owns approximately 4.59% of the company, valued at $217.6 million.
• Multiple institutional investors increased their stakes in Gates Industrial, with GeoWealth Management LLC leading with a 187.4% increase in its stake during the 4th quarter.
• Analysts have a consensus rating of "Moderate Buy" for Gates Industrial, with price targets ranging from $23.00 to $30.00 from different firms following recent earnings that exceeded expectations.

Dimensional Fund Advisors LP lessened its position in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,821,322 shares of the company's stock after selling 706,539 shares during the quarter. Dimensional Fund Advisors LP owned about 4.59% of Gates Industrial worth $217,626,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GTES. GeoWealth Management LLC grew its holdings in Gates Industrial by 187.4% during the 4th quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock valued at $25,000 after buying an additional 789 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Gates Industrial by 15.8% during the 4th quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock valued at $86,000 after buying an additional 567 shares in the last quarter. Avanza Fonder AB purchased a new position in Gates Industrial during the 1st quarter valued at approximately $145,000. GAMMA Investing LLC grew its holdings in Gates Industrial by 81.0% during the 1st quarter. GAMMA Investing LLC now owns 9,099 shares of the company's stock valued at $168,000 after buying an additional 4,073 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Gates Industrial by 295.1% during the 1st quarter. Versant Capital Management Inc now owns 9,853 shares of the company's stock valued at $181,000 after buying an additional 7,359 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. The Goldman Sachs Group boosted their price objective on Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Royal Bank Of Canada boosted their price objective on Gates Industrial from $28.00 to $29.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Morgan Stanley dropped their price objective on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Citigroup boosted their price objective on Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

Gates Industrial Stock Up 4.0%

Shares of GTES stock traded up $0.9650 during mid-day trading on Friday, hitting $25.2550. The stock had a trading volume of 1,902,708 shares, compared to its average volume of 2,103,323. Gates Industrial Corporation PLC has a 12-month low of $14.70 and a 12-month high of $25.66. The firm has a market capitalization of $6.51 billion, a P/E ratio of 32.38 and a beta of 1.24. The firm's 50-day moving average is $23.99 and its two-hundred day moving average is $21.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.46 and a quick ratio of 2.46.

Gates Industrial (NYSE:GTES - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%.The business had revenue of $883.70 million during the quarter, compared to analysts' expectations of $873.34 million. During the same period in the prior year, the business earned $0.36 EPS. The business's revenue for the quarter was down .2% compared to the same quarter last year. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. On average, analysts predict that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.