Louisiana State Employees Retirement System Buys New Stake in Gates Industrial Corporation PLC $GTES

Louisiana State Employees Retirement System purchased a new stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 112,600 shares of the company’s stock, valued at approximately $2,546,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Gates Industrial by 98.7% during the 4th quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock worth $179,775,000 after acquiring an additional 4,158,341 shares in the last quarter. Norges Bank purchased a new position in shares of Gates Industrial in the 4th quarter valued at about $74,843,000. Van Berkom & Associates Inc. acquired a new position in Gates Industrial in the 4th quarter worth about $68,614,000. Adage Capital Partners GP L.L.C. purchased a new position in Gates Industrial during the second quarter worth approximately $32,255,000. Finally, Nuveen LLC boosted its position in Gates Industrial by 280.0% during the fourth quarter. Nuveen LLC now owns 1,725,274 shares of the company’s stock worth $37,042,000 after purchasing an additional 1,271,248 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Trading Down 2.6%

GTES stock opened at $28.05 on Tuesday. Gates Industrial Corporation PLC has a 12-month low of $20.88 and a 12-month high of $29.17. The business’s 50-day moving average is $26.03 and its 200 day moving average is $24.63. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 29.22 and a beta of 1.27.

Gates Industrial (NYSE:GTES) last announced its earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The business’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, sell-side analysts anticipate that Gates Industrial Corporation PLC will post 1.55 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on GTES shares. Barclays dropped their price objective on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings lowered Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Wall Street Zen cut shares of Gates Industrial from a “strong-buy” rating to a “buy” rating in a research note on Sunday, May 10th. Morgan Stanley boosted their price target on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, Robert W. Baird reduced their price objective on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.00.

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.