Van Berkom & Associates Inc. Has $70.06 Million Stock Holdings in Gates Industrial Corporation PLC $GTES

Key Points

• Van Berkom & Associates trimmed its stake in Gates Industrial by 3.0% in Q1, but still held 3.1 million shares worth about $70.1 million, making GTES its 23rd-largest position and about 2.3% of its portfolio.
• Gates Industrial reported Q1 earnings of $0.35 per share, topping estimates of $0.32, while revenue came in at $851.1 million and rose 0.4% year over year.
• Wall Street sentiment remains constructive: analysts have a Moderate Buy consensus on GTES with an average target price of $31.36, though several firms have recently adjusted their price targets.

Van Berkom & Associates Inc. decreased its stake in Gates Industrial Corporation PLC (NYSE:GTES - Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,098,425 shares of the company's stock after selling 97,397 shares during the quarter. Gates Industrial makes up about 2.3% of Van Berkom & Associates Inc.'s holdings, making the stock its 23rd biggest position. Van Berkom & Associates Inc. owned approximately 1.22% of Gates Industrial worth $70,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GTES. Los Angeles Capital Management LLC acquired a new position in shares of Gates Industrial in the fourth quarter worth $26,000. Transamerica Financial Advisors LLC raised its holdings in shares of Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company's stock worth $34,000 after acquiring an additional 539 shares in the last quarter. Fifth Third Bancorp boosted its position in Gates Industrial by 46.3% during the first quarter. Fifth Third Bancorp now owns 1,624 shares of the company's stock valued at $37,000 after purchasing an additional 514 shares during the last quarter. Parallel Advisors LLC boosted its position in Gates Industrial by 37.7% during the first quarter. Parallel Advisors LLC now owns 2,536 shares of the company's stock valued at $57,000 after purchasing an additional 694 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company's stock valued at $67,000 after purchasing an additional 2,131 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Gates Industrial Trading Down 0.0%

Shares of NYSE:GTES opened at $26.60 on Monday. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $6.76 billion, a PE ratio of 27.71 and a beta of 1.25. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $29.17. The firm has a fifty day moving average price of $26.33 and a 200 day moving average price of $25.09.

Gates Industrial (NYSE:GTES - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The company had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. During the same period last year, the company earned $0.36 earnings per share. The business's revenue was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts expect that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GTES. Barclays dropped their target price on Gates Industrial from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. Morgan Stanley lifted their price target on Gates Industrial from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Friday, May 29th. Royal Bank Of Canada boosted their price target on Gates Industrial from $30.00 to $33.00 and gave the company an "outperform" rating in a research note on Thursday. Wall Street Zen downgraded Gates Industrial from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Finally, Robert W. Baird cut their price objective on shares of Gates Industrial from $39.00 to $37.00 and set an "outperform" rating on the stock in a research report on Monday, May 4th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Gates Industrial presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.36.

About Gates Industrial

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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