Heartland Advisors Inc. Boosts Holdings in Gates Industrial Corporation PLC $GTES

Key Points

• Heartland Advisors Inc. increased its stake in Gates Industrial by 8.5% in the first quarter, buying 63,195 additional shares and bringing its total to 803,365 shares worth about $18.2 million.
• Institutional ownership remains very high, with 98.5% of Gates Industrial shares held by hedge funds and other institutional investors.
• Gates Industrial reported better-than-expected earnings of $0.35 per share for the quarter, while analysts currently have a consensus rating of Moderate Buy with a price target of $31.36.

Heartland Advisors Inc. boosted its holdings in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 8.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 803,365 shares of the company's stock after purchasing an additional 63,195 shares during the quarter. Gates Industrial makes up approximately 0.9% of Heartland Advisors Inc.'s holdings, making the stock its 26th biggest position. Heartland Advisors Inc. owned 0.32% of Gates Industrial worth $18,164,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in shares of Gates Industrial in the fourth quarter worth $26,000. Transamerica Financial Advisors LLC grew its stake in Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company's stock valued at $34,000 after acquiring an additional 539 shares in the last quarter. Fifth Third Bancorp grew its stake in Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company's stock valued at $37,000 after acquiring an additional 514 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Gates Industrial by 273.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company's stock valued at $67,000 after acquiring an additional 2,131 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new stake in Gates Industrial in the 3rd quarter valued at $73,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Price Performance

GTES stock opened at $26.60 on Friday. Gates Industrial Corporation PLC has a 52 week low of $20.88 and a 52 week high of $29.17. The firm has a market capitalization of $6.76 billion, a P/E ratio of 27.71 and a beta of 1.25. The company has a fifty day simple moving average of $26.33 and a two-hundred day simple moving average of $25.07. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.03. The firm had revenue of $851.10 million for the quarter, compared to the consensus estimate of $859.72 million. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The business's quarterly revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts anticipate that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Gates Industrial from $39.00 to $37.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Wolfe Research reiterated an "outperform" rating and issued a $33.00 target price on shares of Gates Industrial in a research report on Thursday, July 9th. Royal Bank Of Canada boosted their target price on Gates Industrial from $30.00 to $33.00 and gave the stock an "outperform" rating in a research report on Thursday. Morgan Stanley increased their price target on Gates Industrial from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Friday, May 29th. Finally, Wall Street Zen cut Gates Industrial from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.36.

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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