Gates Industrial Corporation PLC $GTES Stock Holdings Trimmed by Oliver Luxxe Assets LLC

Key Points

• Oliver Luxxe Assets LLC cut its Gates Industrial position by 39.8% in the second quarter, selling 41,825 shares and retaining 63,335 shares valued at approximately $1.77 million.
• Gates Industrial exceeded quarterly expectations with $0.44 EPS versus the $0.42 estimate and revenue of $941.6 million, up 6.6% year over year. The company issued fiscal 2026 EPS guidance of $1.62–$1.70.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $33.00; nine analysts rate the stock Buy and three rate it Hold.

Oliver Luxxe Assets LLC lowered its position in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 39.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,335 shares of the company's stock after selling 41,825 shares during the quarter. Oliver Luxxe Assets LLC's holdings in Gates Industrial were worth $1,771,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Gates Industrial by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company's stock valued at $261,040,000 after acquiring an additional 295,706 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Gates Industrial by 98.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company's stock valued at $179,775,000 after acquiring an additional 4,158,341 shares in the last quarter. Invesco Ltd. lifted its stake in Gates Industrial by 5.9% during the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company's stock worth $178,687,000 after purchasing an additional 461,160 shares during the last quarter. State Street Corp lifted its stake in Gates Industrial by 3.0% during the fourth quarter. State Street Corp now owns 7,971,572 shares of the company's stock worth $171,150,000 after purchasing an additional 232,447 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Gates Industrial by 5.5% in the fourth quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company's stock worth $156,840,000 after purchasing an additional 381,896 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Insider Buying and Selling at Gates Industrial

In related news, Director Peifang Zhang sold 6,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the sale, the director owned 44,044 shares of the company's stock, valued at $1,301,940.64. This trade represents a 11.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is currently owned by company insiders.

Gates Industrial Price Performance

Shares of GTES opened at $28.31 on Monday. Gates Industrial Corporation PLC has a 12 month low of $20.88 and a 12 month high of $30.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.24 and a quick ratio of 2.36. The stock has a fifty day moving average price of $27.07 and a 200 day moving average price of $25.63. The company has a market cap of $7.17 billion, a P/E ratio of 20.08 and a beta of 1.25.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.The company had revenue of $941.60 million for the quarter, compared to analysts' expectations of $927.28 million. During the same period last year, the business posted $0.39 earnings per share. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, research analysts forecast that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on GTES. Wells Fargo & Company boosted their target price on shares of Gates Industrial from $26.00 to $30.00 and gave the company an "equal weight" rating in a research note on Monday, August 3rd. Weiss Ratings upgraded shares of Gates Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 3rd. Wall Street Zen raised shares of Gates Industrial from a "hold" rating to a "strong-buy" rating in a report on Saturday. Wolfe Research reaffirmed an "outperform" rating and set a $33.00 price objective on shares of Gates Industrial in a research report on Thursday, July 9th. Finally, Royal Bank Of Canada increased their price objective on shares of Gates Industrial from $33.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Gates Industrial presently has a consensus rating of "Moderate Buy" and an average target price of $33.00.

About Gates Industrial

Gates Industrial Corporation PLC NYSE: GTES is a leading global manufacturer of engineered power transmission belts and fluid power products. The company's portfolio includes synchronous belts, V-belts, hose assemblies, fittings and hydraulic components designed to support a wide range of industrial and automotive applications. Gates Industrial serves sectors such as agriculture, mining, construction, manufacturing, transportation and consumer markets, offering solutions that improve performance, reliability and efficiency in demanding operating environments.

In its power transmission segment, Gates Industrial produces high-strength belts engineered for precise motion control and minimal maintenance.

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