Krilogy Financial LLC Takes Position in Gates Industrial Corporation PLC $GTES

Key Points

• Krilogy Financial LLC has acquired a new position in Gates Industrial Corporation PLC, purchasing 10,826 shares for approximately $249,000.
• Institutional investors own 98.50% of Gates Industrial's stock, with major increases in holdings from UBS AM (up 540.7%) and Driehaus Capital Management (up 4,976.3%) recently.
• Analysts have set a consensus price target of $28.18 for Gates Industrial, with ratings ranging from "Strong Buy" to "Hold" among different analysts.

Krilogy Financial LLC acquired a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,826 shares of the company's stock, valued at approximately $249,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Personal CFO Solutions LLC boosted its holdings in shares of Gates Industrial by 6.4% in the 1st quarter. Personal CFO Solutions LLC now owns 11,175 shares of the company's stock valued at $206,000 after acquiring an additional 670 shares during the last quarter. Xponance Inc. increased its position in Gates Industrial by 8.7% during the 1st quarter. Xponance Inc. now owns 11,359 shares of the company's stock worth $209,000 after purchasing an additional 909 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Gates Industrial by 1.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 78,370 shares of the company's stock worth $1,443,000 after purchasing an additional 1,015 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Gates Industrial by 2.4% during the second quarter. Harbor Capital Advisors Inc. now owns 55,209 shares of the company's stock valued at $1,271,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Gates Industrial by 3.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 39,815 shares of the company's stock worth $819,000 after acquiring an additional 1,363 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Gates Industrial Price Performance

GTES stock traded down $0.52 during trading on Friday, reaching $25.34. The company's stock had a trading volume of 7,977,636 shares, compared to its average volume of 1,885,533. The company has a market capitalization of $6.53 billion, a P/E ratio of 32.49 and a beta of 1.25. The company's fifty day moving average is $24.96 and its 200-day moving average is $21.93. The company has a quick ratio of 2.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.66. Gates Industrial Corporation PLC has a 1 year low of $14.70 and a 1 year high of $26.42.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GTES shares. Citigroup upped their price target on Gates Industrial from $22.00 to $29.00 and gave the company a "buy" rating in a research note on Monday, July 14th. The Goldman Sachs Group raised 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. UBS Group boosted their price objective on shares of Gates Industrial from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Gates Industrial from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Finally, Industrial Alliance Securities set a $35.00 price target on shares of Gates Industrial in a research note on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Gates Industrial has an average rating of "Moderate Buy" and an average price target of $28.18.

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.