UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Purchases 346,250 Shares of Gates Industrial Corporation PLC $GTES

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 9.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,955,721 shares of the company’s stock after purchasing an additional 346,250 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 1.53% of Gates Industrial worth $72,825,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in GTES. BNP Paribas Financial Markets increased its holdings in shares of Gates Industrial by 113.1% during the 4th quarter. BNP Paribas Financial Markets now owns 14,591 shares of the company’s stock worth $300,000 after purchasing an additional 7,745 shares during the period. Cetera Investment Advisers increased its holdings in shares of Gates Industrial by 29.4% during the 4th quarter. Cetera Investment Advisers now owns 43,861 shares of the company’s stock worth $902,000 after purchasing an additional 9,971 shares during the period. Deutsche Bank AG increased its holdings in shares of Gates Industrial by 1,332.7% during the 4th quarter. Deutsche Bank AG now owns 188,052 shares of the company’s stock worth $3,868,000 after purchasing an additional 174,926 shares during the period. Ensign Peak Advisors Inc bought a new position in shares of Gates Industrial during the 4th quarter worth about $279,000. Finally, Gotham Asset Management LLC increased its holdings in shares of Gates Industrial by 9.5% during the 4th quarter. Gotham Asset Management LLC now owns 83,297 shares of the company’s stock worth $1,713,000 after purchasing an additional 7,256 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating and issued a $30.00 target price (up previously from $26.00) on shares of Gates Industrial in a research note on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on shares of Gates Industrial in a research note on Monday, August 25th. They issued an “overweight” rating and a $35.00 target price on the stock. Royal Bank Of Canada upped their target price on shares of Gates Industrial from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Industrial Alliance Securities set a $35.00 target price on shares of Gates Industrial in a research note on Monday, August 25th. Finally, Citigroup upped their target price on shares of Gates Industrial from $22.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, July 14th. One research 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.18.

Gates Industrial Price Performance

NYSE:GTES opened at $25.68 on Friday. The firm has a market cap of $6.61 billion, a PE ratio of 32.92 and a beta of 1.25. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $26.42. The company has a quick ratio of 2.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.66. The company’s 50-day moving average price is $24.84 and its two-hundred day moving average price is $21.76.

Gates Industrial (NYSE:GTES) last announced its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) 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 company had revenue of $883.70 million for the quarter, compared to analyst estimates of $873.34 million. During the same period in the prior year, the business 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, equities analysts anticipate that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

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.