JPMorgan Chase & Co. Reduces Stake in Gates Industrial Corporation PLC $GTES

JPMorgan Chase & Co. lessened its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 7.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,214,953 shares of the company’s stock after selling 339,994 shares during the quarter. JPMorgan Chase & Co. owned about 1.63% of Gates Industrial worth $104,615,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC bought a new position in shares of Gates Industrial in the first quarter valued at approximately $381,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Gates Industrial in the 2nd quarter worth approximately $236,000. D.A. Davidson & CO. bought a new position in Gates Industrial in the 2nd quarter valued at $319,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Gates Industrial during the 2nd quarter valued at $219,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Gates Industrial by 2.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 80,223 shares of the company’s stock valued at $1,848,000 after purchasing an additional 1,853 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Gates Industrial Price Performance

Shares of Gates Industrial stock opened at $27.59 on Monday. The firm has a market capitalization of $7.01 billion, a PE ratio of 28.45 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 2.42 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. The business’s 50-day moving average price is $23.65 and its 200-day moving average price is $23.94.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data 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. Gates Industrial had a net margin of 7.30% and a return on equity of 10.36%. The firm had revenue of $856.20 million during the quarter, compared to analyst estimates of $853.35 million. During the same period in the previous year, the business posted $0.36 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. Sell-side analysts forecast that Gates Industrial Corporation PLC will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Robert W. Baird set a $39.00 price target 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. JPMorgan Chase & Co. lowered their target price on shares of Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. Finally, Wall Street Zen upgraded shares of Gates Industrial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Six 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, Gates Industrial presently has an average rating of “Moderate Buy” and an average target price of $30.27.

Gates Industrial Profile

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.