Strs Ohio Sells 83,909 Shares of Gates Industrial Corporation PLC $GTES

Strs Ohio cut its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 276,265 shares of the company’s stock after selling 83,909 shares during the period. Strs Ohio owned 0.11% of Gates Industrial worth $6,246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of GTES. New York State Teachers Retirement System increased its holdings in shares of Gates Industrial by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 85,748 shares of the company’s stock valued at $1,841,000 after purchasing an additional 479 shares in the last quarter. Xponance LLC boosted its position in Gates Industrial by 3.7% in the 4th quarter. Xponance LLC now owns 13,792 shares of the company’s stock valued at $296,000 after buying an additional 486 shares during the last quarter. Glenmede Investment Management LP increased its stake in shares of Gates Industrial by 0.9% in the 3rd quarter. Glenmede Investment Management LP now owns 55,047 shares of the company’s stock valued at $1,366,000 after buying an additional 514 shares during the period. Lido Advisors LLC increased its stake in shares of Gates Industrial by 3.8% in the 4th quarter. Lido Advisors LLC now owns 14,069 shares of the company’s stock valued at $302,000 after buying an additional 521 shares during the period. Finally, Transamerica Financial Advisors LLC raised its position in shares of Gates Industrial by 51.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock worth $34,000 after acquiring an additional 539 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Gates Industrial Stock Up 0.1%

Shares of NYSE GTES opened at $26.73 on Monday. Gates Industrial Corporation PLC has a 52-week low of $20.88 and a 52-week high of $29.17. 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 stock has a market cap of $6.79 billion, a P/E ratio of 27.84 and a beta of 1.25. The firm has a 50 day moving average price of $26.16 and a 200 day moving average price of $24.77.

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

Wall Street Analyst Weigh In

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

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.