Envestnet Asset Management Inc. cut its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 2.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,110,929 shares of the company's stock after selling 26,153 shares during the period. Envestnet Asset Management Inc. owned about 0.43% of Gates Industrial worth $20,452,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. HighPoint Advisor Group LLC lifted its position in shares of Gates Industrial by 3.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 14,800 shares of the company's stock valued at $331,000 after acquiring an additional 452 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Gates Industrial by 3.6% in the fourth quarter. EP Wealth Advisors LLC now owns 14,468 shares of the company's stock valued at $298,000 after acquiring an additional 504 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Gates Industrial by 15.8% in the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after purchasing an additional 567 shares during the last quarter. United Services Automobile Association increased its holdings in shares of Gates Industrial by 4.8% in the fourth quarter. United Services Automobile Association now owns 14,054 shares of the company's stock worth $289,000 after purchasing an additional 646 shares during the last quarter. Finally, Utah Retirement Systems increased its holdings in shares of Gates Industrial by 6.4% in the fourth quarter. Utah Retirement Systems now owns 11,700 shares of the company's stock worth $241,000 after purchasing an additional 700 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Barclays boosted their target price on Gates Industrial from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada boosted their target price on Gates Industrial from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Citigroup boosted their target price on Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a research report on Monday, July 14th. Finally, Morgan Stanley dropped their target price on Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.44.
Read Our Latest Research Report on GTES
Gates Industrial Stock Down 0.6%
Shares of GTES traded down $0.15 during midday trading on Friday, hitting $24.71. 2,020,639 shares of the company's stock traded hands, compared to its average volume of 2,583,303. Gates Industrial Corporation PLC has a 1 year low of $14.70 and a 1 year high of $25.00. The firm's fifty day moving average is $22.55 and its 200-day moving average is $20.72. The company has a current ratio of 3.33, a quick ratio of 2.35 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $6.37 billion, a price-to-earnings ratio of 30.13 and a beta of 1.22.
Gates Industrial (NYSE:GTES - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Gates Industrial had a return on equity of 10.15% and a net margin of 6.39%. The company had revenue of $847.60 million during the quarter, compared to analysts' expectations of $823.56 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm's revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.
About Gates Industrial
(
Free Report)
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.
Recommended Stories
Before you consider Gates Industrial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Gates Industrial wasn't on the list.
While Gates Industrial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Fall 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
