American Century Companies Inc. Reduces Stake in Gates Industrial Corporation PLC $GTES

American Century Companies Inc. cut its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 56.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,843,354 shares of the company’s stock after selling 3,618,507 shares during the quarter. American Century Companies Inc. owned 1.10% of Gates Industrial worth $70,572,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of Gates Industrial by 133.2% in the third quarter. True Wealth Design LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 666 shares in the last quarter. Allworth Financial LP grew its stake in Gates Industrial by 43.0% in the 2nd quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock valued at $48,000 after acquiring an additional 630 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in Gates Industrial by 5,123.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock valued at $49,000 after acquiring an additional 1,947 shares in the last quarter. Quent Capital LLC acquired a new position in Gates Industrial during the third quarter worth about $51,000. Finally, Avanza Fonder AB raised 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 acquiring an additional 1,124 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, December 29th. Citigroup upped their target price on Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Wells Fargo & Company started coverage on Gates Industrial in a research report on Thursday, November 13th. They set an “equal weight” rating and a $23.00 price target for the company. Barclays upped their price objective on Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, February 13th. Finally, Robert W. Baird set a $39.00 price objective on Gates Industrial in a research note on Friday, February 13th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Gates Industrial currently has an average rating of “Moderate Buy” and an average target price of $30.27.

Gates Industrial Price Performance

Shares of NYSE:GTES opened at $26.27 on Thursday. The company has a market cap of $6.67 billion, a P/E ratio of 27.09 and a beta of 1.23. The business has a fifty day simple moving average of $24.54 and a 200-day simple moving average of $24.12. Gates Industrial Corporation PLC has a 52 week low of $14.70 and a 52 week high of $28.47. The company has a quick ratio of 2.42, a current ratio of 3.37 and a debt-to-equity ratio of 0.61.

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

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.