Quantbot Technologies LP Invests $683,000 in Gates Industrial Corporation PLC $GTES

Key Points

• Quantbot Technologies LP has acquired a new stake in Gates Industrial Corporation PLC, purchasing 37,082 shares valued at approximately $683,000.
• Recent analyst ratings for Gates Industrial show a mix of upgrades, with Zacks Research lifting its rating to "strong-buy" and Citigroup raising the price target from $22.00 to $29.00.
• For the latest quarter, Gates Industrial reported earnings of $0.39 per share, surpassing analyst estimates, though revenue was down 0.2% from the previous year.

Quantbot Technologies LP purchased a new stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 37,082 shares of the company's stock, valued at approximately $683,000.

Several other hedge funds also recently made changes to their positions in GTES. GeoWealth Management LLC increased its holdings in shares of Gates Industrial by 187.4% during the fourth quarter. GeoWealth Management LLC now owns 1,210 shares of the company's stock worth $25,000 after purchasing an additional 789 shares during the period. MetLife Investment Management LLC increased its holdings in shares of 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 during the period. Avanza Fonder AB acquired a new stake in shares of Gates Industrial during the 1st quarter worth approximately $145,000. GAMMA Investing LLC boosted its position in shares of Gates Industrial by 81.0% during the 1st quarter. GAMMA Investing LLC now owns 9,099 shares of the company's stock worth $168,000 after acquiring an additional 4,073 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Gates Industrial by 295.1% during the 1st quarter. Versant Capital Management Inc now owns 9,853 shares of the company's stock worth $181,000 after acquiring an additional 7,359 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Gates Industrial Trading Up 0.5%

Shares of NYSE:GTES traded up $0.13 during mid-day trading on Thursday, reaching $26.11. 1,860,751 shares of the company's stock were exchanged, compared to its average volume of 2,274,563. Gates Industrial Corporation PLC has a twelve month low of $14.70 and a twelve month high of $26.33. The business's fifty day moving average price is $24.22 and its 200-day moving average price is $21.50. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 33.48 and a beta of 1.24. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays reiterated an "overweight" rating and set a $28.00 price target (up previously from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. Industrial Alliance Securities set a $35.00 price target on shares of Gates Industrial in a research report on Monday. The Goldman Sachs Group increased their price target on shares of Gates Industrial from $20.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. JPMorgan Chase & Co. assumed coverage on shares of Gates Industrial in a research report on Monday. They set an "overweight" rating and a $35.00 price target on the stock. Finally, Morgan Stanley reduced their price target on shares of Gates Industrial from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.18.

Gates Industrial Company Profile

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.