EVR Research LP lowered its stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,000 shares of the company's stock after selling 110,000 shares during the quarter. Gates Industrial accounts for approximately 1.9% of EVR Research LP's portfolio, making the stock its 14th largest position. EVR Research LP owned approximately 0.14% of Gates Industrial worth $6,812,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. MetLife Investment Management LLC increased its stake in shares of Gates Industrial by 20,006.5% in the 1st quarter. MetLife Investment Management LLC now owns 835,829 shares of the company's stock valued at $15,388,000 after acquiring an additional 831,672 shares in the last quarter. Oliver Luxxe Assets LLC increased its stake in shares of Gates Industrial by 25.1% in the 1st quarter. Oliver Luxxe Assets LLC now owns 101,299 shares of the company's stock valued at $1,865,000 after acquiring an additional 20,335 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Gates Industrial in the 1st quarter valued at $34,000. Fiduciary Management Inc. WI increased its stake in shares of Gates Industrial by 0.6% in the 1st quarter. Fiduciary Management Inc. WI now owns 7,266,385 shares of the company's stock valued at $133,774,000 after acquiring an additional 41,541 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Gates Industrial in the 1st quarter valued at $683,000. Institutional investors own 98.50% of the company's stock.
Gates Industrial Stock Down 2.3%
Shares of NYSE GTES traded down $0.61 during trading on Friday, hitting $25.53. The stock had a trading volume of 1,500,043 shares, compared to its average volume of 1,832,351. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $26.33. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.46 and a quick ratio of 2.46. The company has a market capitalization of $6.58 billion, a PE ratio of 32.74 and a beta of 1.24. The firm has a fifty day moving average of $24.38 and a two-hundred day moving average of $21.54.
Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The firm had revenue of $883.70 million during the quarter, compared to analyst estimates of $873.34 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business's revenue was down .2% compared to the same quarter last year. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. As a group, equities research analysts forecast that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently weighed in on GTES shares. The Goldman Sachs Group lifted their price objective on shares of Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. started coverage on shares of Gates Industrial in a research note on Monday, August 25th. They set an "overweight" rating and a $35.00 price target for the company. Barclays restated an "overweight" rating and set a $28.00 price target (up previously from $26.00) on shares of Gates Industrial in a research note on Monday, August 4th. Citigroup boosted their price target on shares of Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Finally, KeyCorp restated an "overweight" rating and set a $30.00 price target (up previously from $26.00) on shares of Gates Industrial in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $28.18.
Read Our Latest Stock Report on GTES
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.
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