Hotchkis & Wiley Capital Management LLC lowered its position in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 16.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 432,290 shares of the company's stock after selling 85,840 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.17% of Gates Industrial worth $7,958,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in Gates Industrial by 4.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,660 shares of the company's stock worth $767,000 after acquiring an additional 1,845 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Gates Industrial by 81.0% in the first 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. QRG Capital Management Inc. raised its holdings in shares of Gates Industrial by 4.5% in the 1st quarter. QRG Capital Management Inc. now owns 38,085 shares of the company's stock valued at $701,000 after buying an additional 1,626 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in shares of Gates Industrial by 1.3% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 78,370 shares of the company's stock valued at $1,443,000 after buying an additional 1,015 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Gates Industrial by 15.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 120,960 shares of the company's stock worth $2,227,000 after acquiring an additional 16,224 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on GTES shares. The Goldman Sachs Group boosted their price target on shares of Gates Industrial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Zacks Research upgraded shares of Gates Industrial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 20th. KeyCorp reiterated an "overweight" rating and set a $30.00 target price (up from $26.00) on shares of Gates Industrial in a report on Thursday, July 31st. Citigroup boosted their price target on shares of Gates Industrial from $22.00 to $29.00 and gave the stock a "buy" rating in a research note on Monday, July 14th. Finally, Barclays reaffirmed an "overweight" rating and set a $28.00 price objective (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. 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 company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.18.
Get Our Latest Stock Analysis on GTES
Gates Industrial Stock Up 0.5%
Shares of NYSE GTES traded up $0.13 during mid-day trading on Thursday, reaching $26.11. The company had a trading volume of 1,860,751 shares, compared to its average volume of 2,274,563. The firm has a 50 day simple moving average of $24.22 and a two-hundred day simple moving average of $21.50. The company has a current ratio of 3.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.66. Gates Industrial Corporation PLC has a 52-week low of $14.70 and a 52-week high of $26.33. The stock has a market cap of $6.73 billion, a P/E ratio of 33.48 and a beta of 1.24.
Gates Industrial (NYSE:GTES - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.01. The firm had revenue of $883.70 million for the quarter, compared to the consensus estimate of $873.34 million. Gates Industrial had a return on equity of 10.17% and a net margin of 5.98%.The firm's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. Sell-side analysts predict that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current year.
Gates Industrial Profile
(
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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