AXQ Capital LP Takes $1.18 Million Position in Gates Industrial Corporation PLC $GTES

AXQ Capital LP purchased a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 47,402 shares of the company’s stock, valued at approximately $1,177,000.

A number of other institutional investors have also added to or reduced their stakes in GTES. True Wealth Design LLC lifted its position 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 buying an additional 666 shares during the period. SJS Investment Consulting Inc. increased its stake in shares of Gates Industrial by 5,123.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,985 shares of the company’s stock worth $49,000 after acquiring an additional 1,947 shares in the last quarter. Quent Capital LLC purchased a new position in Gates Industrial during the 3rd quarter valued at about $51,000. Allworth Financial LP boosted its stake in Gates Industrial by 43.0% during the second quarter. Allworth Financial LP now owns 2,096 shares of the company’s stock worth $48,000 after acquiring an additional 630 shares in the last quarter. Finally, Avanza Fonder AB grew its holdings in Gates Industrial by 85.3% in the third quarter. Avanza Fonder AB now owns 2,441 shares of the company’s stock worth $61,000 after purchasing an additional 1,124 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on GTES. JPMorgan Chase & Co. dropped their price target on Gates Industrial from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $31.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Robert W. Baird set a $39.00 price target on Gates Industrial in a report on Friday, February 13th. Barclays lifted their price target on Gates Industrial from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Finally, Wells Fargo & Company assumed coverage on shares of Gates Industrial in a research report on Thursday, November 13th. They set an “equal weight” rating and a $23.00 price objective on the stock. 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.27.

Gates Industrial Stock Performance

Shares of NYSE GTES opened at $27.73 on Tuesday. The firm’s 50-day moving average price is $23.77 and its 200-day moving average price is $23.97. Gates Industrial Corporation PLC has a 52-week low of $14.70 and a 52-week high of $28.47. The company has a market cap of $7.04 billion, a PE ratio of 28.59 and a beta of 1.27. 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 issued its quarterly earnings data on Thursday, February 12th. The company reported $0.38 earnings per share for the quarter, beating 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 company had revenue of $856.20 million for the quarter, compared to the consensus estimate of $853.35 million. During the same quarter in the prior year, the firm earned $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. As a group, analysts anticipate 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.