Vanguard Personalized Indexing Management LLC Takes $236,000 Position in Gates Industrial Corporation PLC $GTES

Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,249 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds have also modified their holdings of the stock. Fiduciary Management Inc. WI grew its stake in shares of Gates Industrial by 0.6% during the first quarter. Fiduciary Management Inc. WI now owns 7,266,385 shares of the company’s stock valued at $133,774,000 after purchasing an additional 41,541 shares during the last quarter. Jennison Associates LLC lifted its holdings in Gates Industrial by 30.5% in the first quarter. Jennison Associates LLC now owns 6,919,403 shares of the company’s stock valued at $127,386,000 after buying an additional 1,618,598 shares during the period. American Century Companies Inc. lifted its holdings in Gates Industrial by 13.6% in the first quarter. American Century Companies Inc. now owns 6,200,432 shares of the company’s stock valued at $114,150,000 after buying an additional 743,468 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Gates Industrial by 9.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,955,721 shares of the company’s stock valued at $72,825,000 after buying an additional 346,250 shares during the period. Finally, Driehaus Capital Management LLC lifted its holdings in Gates Industrial by 4,976.3% in the first quarter. Driehaus Capital Management LLC now owns 1,606,345 shares of the company’s stock valued at $29,573,000 after buying an additional 1,574,701 shares during the period. 98.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GTES has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Gates Industrial in a report on Monday, August 25th. They issued an “overweight” rating and a $35.00 price objective on the stock. Citigroup increased their price objective on shares of Gates Industrial from $22.00 to $29.00 and gave the company a “buy” rating in a report on Monday, July 14th. Barclays restated an “overweight” rating and issued a $28.00 price objective (up from $26.00) on shares of Gates Industrial in a report on Monday, August 4th. KeyCorp restated an “overweight” rating and issued a $30.00 price objective (up from $26.00) on shares of Gates Industrial in a report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 4th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.18.

Gates Industrial Trading Up 0.4%

Shares of NYSE:GTES opened at $26.15 on Friday. Gates Industrial Corporation PLC has a 12 month low of $14.70 and a 12 month high of $26.46. 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 fifty day simple moving average is $25.37 and its 200 day simple moving average is $23.09. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 33.52 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.39 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 business had revenue of $883.70 million for the quarter, compared to analyst estimates of $873.34 million. During the same period last year, the business posted $0.36 earnings per share. The firm’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. As a group, research analysts forecast that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

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.