Public Employees Retirement System of Ohio Makes New Investment in Gates Industrial Corporation PLC $GTES

Public Employees Retirement System of Ohio bought a new position in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 77,445 shares of the company's stock, valued at approximately $2,166,000.

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

Analysts Set New Price Targets

GTES has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Gates Industrial from $26.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of Gates Industrial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Robert W. Baird increased their price objective on Gates Industrial from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Monday, August 3rd. Finally, Morgan Stanley raised their target price on Gates Industrial from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Friday, May 29th. Nine equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Gates Industrial has an average rating of "Moderate Buy" and an average target price of $32.45.

Gates Industrial Stock Performance

NYSE:GTES opened at $25.98 on Monday. The company has a market capitalization of $6.58 billion, a PE ratio of 18.43 and a beta of 1.26. The company has a 50 day simple moving average of $26.86 and a two-hundred day simple moving average of $25.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $30.34.

Gates Industrial (NYSE:GTES - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The firm had revenue of $941.60 million during the quarter, compared to analyst estimates of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The company's revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. Research analysts anticipate that Gates Industrial Corporation PLC will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Gates Industrial

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

Gates Industrial Company Profile

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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