Gates Industrial Corporation PLC $GTES Shares Sold by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP sold 150,513 shares of Gates Industrial Corporation, reducing its stake by 72% to 58,523 shares worth approximately $1.08 million.
• Gates Industrial received several rating upgrades from analysts, with a current consensus rating of "Moderate Buy" and an average target price of $28.18.
• Gates Industrial reported earnings per share of $0.39 in its latest quarter, exceeding analysts' expectations, and is projecting a fiscal year 2025 EPS guidance between 1.440 and 1.520.

Kodai Capital Management LP trimmed its position in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 72.0% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,523 shares of the company's stock after selling 150,513 shares during the period. Kodai Capital Management LP's holdings in Gates Industrial were worth $1,077,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GTES. SVB Wealth LLC acquired a new position in Gates Industrial during the first quarter worth $34,000. MetLife Investment Management LLC lifted its stake in Gates Industrial by 15.8% during the fourth quarter. MetLife Investment Management LLC now owns 4,157 shares of the company's stock worth $86,000 after purchasing an additional 567 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of Gates Industrial in the first quarter valued at $145,000. GAMMA Investing LLC raised 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 acquiring an additional 4,073 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Gates Industrial by 295.1% in the first quarter. Versant Capital Management Inc now owns 9,853 shares of the company's stock valued at $181,000 after acquiring an additional 7,359 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Barclays reiterated an "overweight" rating and issued a $28.00 price objective (up from $26.00) on shares of Gates Industrial in a research note on Monday, August 4th. Citigroup increased their price objective on Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Industrial Alliance Securities set a $35.00 price objective on Gates Industrial in a research note on Monday, August 25th. UBS Group increased their price objective on Gates Industrial from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, The Goldman Sachs Group increased their price objective on Gates Industrial from $20.00 to $23.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.18.

Gates Industrial Stock Performance

Shares of GTES traded up $0.41 during midday trading on Thursday, reaching $25.79. 691,661 shares of the stock were exchanged, compared to its average volume of 2,259,693. The business's 50-day moving average price is $24.54 and its 200 day moving average price is $21.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.46 and a quick ratio of 2.46. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $26.33. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 33.06 and a beta of 1.25.

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

About Gates Industrial

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.