Cresset Asset Management LLC Acquires Shares of 34,410 Gates Industrial Corporation PLC $GTES

Cresset Asset Management LLC bought a new position in shares of Gates Industrial Corporation PLC (NYSE:GTES) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 34,410 shares of the company’s stock, valued at approximately $854,000.

Several other hedge funds and other institutional investors have also modified their holdings of GTES. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in Gates Industrial by 1.0% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 52,700 shares of the company’s stock valued at $1,308,000 after buying an additional 500 shares during the last quarter. CIBC Asset Management Inc lifted its position in Gates Industrial by 4.3% during the third quarter. CIBC Asset Management Inc now owns 13,612 shares of the company’s stock worth $338,000 after acquiring an additional 565 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Gates Industrial by 2.4% during the third quarter. Tectonic Advisors LLC now owns 24,762 shares of the company’s stock worth $615,000 after acquiring an additional 572 shares during the period. Allworth Financial LP grew its position 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 valued at $48,000 after purchasing an additional 630 shares during the last quarter. Finally, Highland Capital Management LLC grew its position in shares of Gates Industrial by 1.2% in the third quarter. Highland Capital Management LLC now owns 52,900 shares of the company’s stock valued at $1,313,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on GTES shares. Barclays lifted their price target on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. UBS Group reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Robert W. Baird set a $39.00 price objective on Gates Industrial in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a report on Monday, December 29th. Finally, Citigroup boosted their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.27.

Gates Industrial Price Performance

GTES stock opened at $24.29 on Wednesday. The company’s 50-day moving average price is $24.75 and its two-hundred day moving average price is $24.11. The firm has a market cap of $6.17 billion, a P/E ratio of 25.04 and a beta of 1.23. 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 Corporation PLC has a 12 month low of $14.70 and a 12 month high of $28.47.

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