Allspring Global Investments Holdings LLC Purchases 717,353 Shares of Gates Industrial Corporation PLC $GTES

Allspring Global Investments Holdings LLC grew its position in Gates Industrial Corporation PLC (NYSE:GTES) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,169,457 shares of the company’s stock after acquiring an additional 717,353 shares during the period. Allspring Global Investments Holdings LLC owned about 5.49% of Gates Industrial worth $312,578,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Gates Industrial by 1.0% during the third 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. Glenmede Investment Management LP boosted its holdings in Gates Industrial by 0.9% during the 3rd quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock valued at $1,366,000 after acquiring an additional 514 shares during the period. Public Employees Retirement System of Ohio grew its position in Gates Industrial by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 85,178 shares of the company’s stock worth $2,114,000 after acquiring an additional 543 shares during the last quarter. CIBC Asset Management Inc increased its stake in Gates Industrial by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 13,612 shares of the company’s stock worth $338,000 after purchasing an additional 565 shares during the period. Finally, Tectonic Advisors LLC increased its stake in Gates Industrial by 2.4% in the 3rd quarter. Tectonic Advisors LLC now owns 24,762 shares of the company’s stock worth $615,000 after purchasing an additional 572 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. UBS Group reissued a “buy” rating and set a $33.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. JPMorgan Chase & Co. decreased 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. Barclays upped their price target on shares of Gates Industrial from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. Finally, Robert W. Baird set a $39.00 price objective on shares of Gates Industrial in a research report on Friday, February 13th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Gates Industrial has a consensus rating of “Moderate Buy” and an average price target of $30.73.

Gates Industrial Stock Down 4.7%

GTES stock opened at $21.06 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.42 and a current ratio of 3.37. The business’s 50 day moving average price is $24.83 and its two-hundred day moving average price is $23.82. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 21.72 and a beta of 1.22. Gates Industrial Corporation PLC has a fifty-two week low of $14.70 and a fifty-two week high of $28.47.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. The company had revenue of $856.20 million for 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%. Gates Industrial’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts forecast that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

Gates Industrial Company 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.