Gates Industrial Corporation PLC $GTES Stake Lessened by Castleark Management LLC

Castleark Management LLC lessened its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 357,932 shares of the company’s stock after selling 40,520 shares during the period. Castleark Management LLC owned about 0.14% of Gates Industrial worth $7,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in shares of Gates Industrial in the fourth quarter worth $26,000. Assetmark Inc. increased its stake in Gates Industrial by 38.1% during the third quarter. Assetmark Inc. now owns 2,448 shares of the company’s stock valued at $61,000 after purchasing an additional 676 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Gates Industrial during the third quarter valued at $65,000. Northwestern Mutual Wealth Management Co. increased its stake in Gates Industrial by 273.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after purchasing an additional 2,131 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Gates Industrial by 1,976.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,970 shares of the company’s stock valued at $68,000 after purchasing an additional 2,827 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GTES. Weiss Ratings lowered shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 1st. UBS Group reiterated a “buy” rating and set a $33.00 target price on shares of Gates Industrial in a research note on Friday, February 13th. Robert W. Baird lowered their target price on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Barclays lowered their target price on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, Wall Street Zen lowered shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Gates Industrial Stock Performance

Shares of GTES opened at $27.06 on Friday. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $28.47. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 28.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.66 and a current ratio of 3.67. The firm has a fifty day moving average of $25.21 and a 200-day moving average of $24.17.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The company had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, equities analysts anticipate that Gates Industrial Corporation PLC will post 1.54 earnings per share 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.