Teza Capital Management LLC Sells 71,490 Shares of Gates Industrial Corporation PLC $GTES

Key Points

• Teza Capital Management LLC significantly reduced its stake in Gates Industrial Corporation PLC by 86.6%, holding only 11,016 shares after selling 71,490 shares in the first quarter.
• Analysts have optimistic views on Gates Industrial, with Citigroup and Royal Bank of Canada increasing their price targets to $29.00, and providing ratings ranging from "buy" to "strong-buy."
• Gates Industrial reported earnings per share (EPS) of $0.39 for the last quarter, exceeding estimates, while projecting a fiscal year 2025 EPS guidance between $1.440 and $1.520.

Teza Capital Management LLC lowered its stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 86.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,016 shares of the company's stock after selling 71,490 shares during the period. Teza Capital Management LLC's holdings in Gates Industrial were worth $203,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fiduciary Management Inc. WI grew its stake in 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 buying an additional 41,541 shares during the last quarter. Jennison Associates LLC grew its stake in Gates Industrial by 30.5% in the 1st quarter. Jennison Associates LLC now owns 6,919,403 shares of the company's stock valued at $127,386,000 after buying an additional 1,618,598 shares during the last quarter. Janus Henderson Group PLC grew its stake in Gates Industrial by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,569,959 shares of the company's stock valued at $135,145,000 after buying an additional 85,253 shares during the last quarter. American Century Companies Inc. grew its stake in Gates Industrial by 13.6% in the 1st quarter. American Century Companies Inc. now owns 6,200,432 shares of the company's stock valued at $114,150,000 after buying an additional 743,468 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Gates Industrial by 540.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,609,471 shares of the company's stock valued at $74,247,000 after buying an additional 3,046,064 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Gates Industrial from $22.00 to $29.00 and gave the stock a "buy" rating in a research report on Monday, July 14th. Wall Street Zen upgraded shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 12th. Industrial Alliance Securities set a $35.00 target price on shares of Gates Industrial in a research report on Monday, August 25th. UBS Group increased their target price on shares of Gates Industrial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Barclays restated an "overweight" rating and set a $28.00 target price (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $28.18.

Gates Industrial Price Performance

Gates Industrial stock traded down $0.37 during mid-day trading on Friday, reaching $25.68. The company had a trading volume of 1,921,051 shares, compared to its average volume of 1,737,540. Gates Industrial Corporation PLC has a fifty-two week low of $14.70 and a fifty-two week high of $26.42. 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 company has a market cap of $6.61 billion, a P/E ratio of 32.92 and a beta of 1.25. The business has a fifty day simple moving average of $24.84 and a 200 day simple moving average of $21.76.

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, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $873.34 million. During the same quarter last year, the business posted $0.36 earnings per share. The company's quarterly revenue was down .2% on a year-over-year basis. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. On average, equities research analysts predict that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.

Gates Industrial Company 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.