47,402 Shares in Gates Industrial Corporation PLC $GTES Purchased by AXQ Capital LP

AXQ Capital LP bought a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 47,402 shares of the company’s stock, valued at approximately $1,177,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. True Wealth Design LLC grew its stake in Gates Industrial by 133.2% during the third quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 666 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Gates Industrial by 43.0% in the second quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock worth $48,000 after purchasing an additional 630 shares during the period. SJS Investment Consulting Inc. raised its position in shares of Gates Industrial by 5,123.7% in the third quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock worth $49,000 after buying an additional 1,947 shares in the last quarter. Quent Capital LLC bought a new stake in Gates Industrial during the third quarter valued at $51,000. Finally, Avanza Fonder AB grew its position in Gates Industrial by 85.3% during the third quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock worth $61,000 after buying an additional 1,124 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $27.73 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.37 and a quick ratio of 2.42. Gates Industrial Corporation PLC has a one year low of $14.70 and a one year high of $28.47. The business’s 50 day simple moving average is $23.77 and its two-hundred day simple moving average is $23.97. The stock has a market capitalization of $7.04 billion, a P/E ratio of 28.59 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $856.20 million for the quarter, compared to analyst estimates of $853.35 million. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Analysts forecast that Gates Industrial Corporation PLC will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GTES. Wall Street Zen raised Gates Industrial from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. UBS Group reaffirmed a “buy” rating and issued a $33.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Citigroup increased their price target on shares of Gates Industrial from $27.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their price objective on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Gates Industrial presently has an average rating of “Moderate Buy” and an average price target of $30.27.

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.