Strs Ohio Takes $8.92 Million Position in Gates Industrial Corporation PLC $GTES

Key Points

• Strs Ohio has acquired a new position in Gates Industrial Corporation PLC, purchasing 484,291 shares worth approximately $8.92 million, representing 0.19% of the company's total stock.
• Gates Industrial's stock recently saw a 1.4% decline, with current pricing around $25.68 and a market cap of $6.61 billion.
• Several analysts have upgraded the stock, with Barclays setting a price target of $28.00 and Zacks Research raising its rating to "strong-buy", contributing to a consensus rating of "Moderate Buy."

Strs Ohio acquired a new stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 484,291 shares of the company's stock, valued at approximately $8,916,000. Strs Ohio owned 0.19% of Gates Industrial at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. SVB Wealth LLC bought a new stake in Gates Industrial during the 1st quarter worth approximately $34,000. Avanza Fonder AB bought a new stake in Gates Industrial during the 1st quarter worth approximately $145,000. GAMMA Investing LLC grew its position in 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 during the last quarter. Versant Capital Management Inc grew its position in 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 during the last quarter. Finally, PharVision Advisers LLC bought a new stake in Gates Industrial during the 4th quarter worth approximately $203,000. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Stock Down 1.4%

NYSE:GTES opened at $25.68 on Friday. The stock's fifty day moving average price is $24.84 and its two-hundred day moving average price is $21.76. Gates Industrial Corporation PLC has a 52-week low of $14.70 and a 52-week high of $26.42. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.46 and a current ratio of 3.46. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 32.92 and a beta of 1.25.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays restated an "overweight" rating and set a $28.00 price target (up from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. Zacks Research upgraded Gates Industrial from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 20th. UBS Group increased their price target on Gates Industrial from $27.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Royal Bank Of Canada upped their price objective on Gates Industrial from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Wall Street Zen raised Gates Industrial from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.18.

Gates Industrial 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.

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