Fiduciary Management Inc. WI Raises Stock Holdings in Gates Industrial Corporation PLC $GTES

Key Points

• Fiduciary Management Inc. WI increased its stake in Gates Industrial Corporation PLC by 0.6% during Q1, now owning 7,266,385 shares valued at approximately $133.77 million.
• Gates Industrial reported earnings of $0.39 per share for the recent quarter, exceeding analysts' expectations, with revenue of $883.70 million.
• Wall Street analysts have issued varying ratings for Gates Industrial, including a "strong-buy" rating by Wall Street Zen and an upward price target adjustment by KeyCorp to $30.00.

Fiduciary Management Inc. WI lifted its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 0.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,266,385 shares of the company's stock after acquiring an additional 41,541 shares during the quarter. Fiduciary Management Inc. WI owned 2.82% of Gates Industrial worth $133,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GeoWealth Management LLC raised its position in Gates Industrial by 187.4% in the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock worth $25,000 after acquiring an additional 789 shares during the period. MetLife Investment Management LLC raised its position in 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 acquiring an additional 567 shares during the period. Avanza Fonder AB bought a new stake in Gates Industrial in the first quarter worth about $145,000. GAMMA Investing LLC raised its position in Gates Industrial by 81.0% in the first quarter. GAMMA Investing LLC now owns 9,099 shares of the company's stock worth $168,000 after acquiring an additional 4,073 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new stake in Gates Industrial in the fourth quarter worth $202,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Stock Performance

Gates Industrial stock opened at $24.2770 on Friday. The firm's 50 day simple moving average is $23.92 and its 200 day simple moving average is $21.39. The company has a current ratio of 3.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $6.25 billion, a PE ratio of 31.12 and a beta of 1.24. Gates Industrial Corporation PLC has a 1-year low of $14.70 and a 1-year high of $25.66.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on GTES shares. Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Morgan Stanley decreased 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. KeyCorp reissued an "overweight" rating and issued a $30.00 target price (up from $26.00) on shares of Gates Industrial in a research report on Thursday, July 31st. Royal Bank Of Canada boosted their price target on shares of Gates Industrial from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Finally, Barclays reissued an "overweight" rating and issued a $28.00 price target (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. One 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's stock. According to MarketBeat.com, Gates Industrial currently has an average rating of "Moderate Buy" and an average target price of $26.67.

Gates Industrial Profile

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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