D.A. Davidson & CO. Buys New Position in Gates Industrial Corporation PLC $GTES

D.A. Davidson & CO. bought a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,838 shares of the company’s stock, valued at approximately $319,000.

Several other large investors also recently added to or reduced their stakes in GTES. GAMMA Investing LLC grew its position in Gates Industrial by 81.0% during the first quarter. GAMMA Investing LLC now owns 9,099 shares of the company’s stock valued at $168,000 after buying an additional 4,073 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Gates Industrial by 4.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 41,660 shares of the company’s stock valued at $767,000 after buying an additional 1,845 shares during the period. Principal Financial Group Inc. grew its position in Gates Industrial by 2.7% during the first quarter. Principal Financial Group Inc. now owns 1,128,867 shares of the company’s stock valued at $20,782,000 after buying an additional 29,763 shares during the period. OneDigital Investment Advisors LLC lifted its holdings in Gates Industrial by 12.2% during the first quarter. OneDigital Investment Advisors LLC now owns 19,599 shares of the company’s stock valued at $361,000 after purchasing an additional 2,135 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in Gates Industrial by 91.7% during the first quarter. Crossmark Global Holdings Inc. now owns 96,179 shares of the company’s stock valued at $1,771,000 after purchasing an additional 46,000 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Industrial Alliance Securities set a $35.00 price target on shares of Gates Industrial in a report on Monday, August 25th. Zacks Research downgraded shares of Gates Industrial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Citigroup lowered their price target on shares of Gates Industrial from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Gates Industrial in a report on Wednesday, October 8th. Finally, Wall Street Zen raised 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.64.

Gates Industrial Price Performance

GTES stock opened at $21.84 on Friday. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $26.46. The company’s fifty day moving average price is $25.35 and its 200-day moving average price is $23.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.46 and a current ratio of 3.52. The company has a market capitalization of $5.63 billion, a PE ratio of 24.00 and a beta of 1.25.

Gates Industrial (NYSE:GTES) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Gates Industrial had a net margin of 6.93% and a return on equity of 10.38%. The company had revenue of $855.70 million for the quarter, compared to the consensus estimate of $860.95 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Gates Industrial’s revenue was up 3.0% on a year-over-year basis. Gates Industrial has set its FY 2025 guidance at 1.480-1.520 EPS. On average, equities analysts anticipate that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

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.