Arrowstreet Capital Limited Partnership Acquires 868,734 Shares of Gates Industrial Corporation PLC $GTES

Arrowstreet Capital Limited Partnership raised its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 62.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,251,585 shares of the company’s stock after acquiring an additional 868,734 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Gates Industrial were worth $50,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Lido Advisors LLC raised its stake in shares of Gates Industrial by 24.5% in the first quarter. Lido Advisors LLC now owns 17,511 shares of the company’s stock worth $396,000 after purchasing an additional 3,442 shares during the last quarter. State of Wyoming boosted its position in shares of Gates Industrial by 10.4% during the first quarter. State of Wyoming now owns 34,206 shares of the company’s stock valued at $773,000 after buying an additional 3,223 shares during the last quarter. Cetera Investment Advisers increased its holdings in Gates Industrial by 4.6% in the 1st quarter. Cetera Investment Advisers now owns 54,766 shares of the company’s stock worth $1,238,000 after buying an additional 2,426 shares in the last quarter. First Trust Advisors LP increased its holdings in Gates Industrial by 68.8% in the 1st quarter. First Trust Advisors LP now owns 313,372 shares of the company’s stock worth $7,085,000 after buying an additional 127,758 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Gates Industrial by 4.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 28,070 shares of the company’s stock worth $635,000 after buying an additional 1,122 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Performance

GTES opened at $26.56 on Tuesday. 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 company has a market cap of $6.75 billion, a price-to-earnings ratio of 27.67 and a beta of 1.25. The company’s 50 day moving average is $26.52 and its 200 day moving average is $25.29. Gates Industrial Corporation PLC has a 12-month low of $20.88 and a 12-month high of $29.17.

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. Gates Industrial had a net margin of 7.23% and a return on equity of 10.00%. The business had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. On average, equities research analysts predict that Gates Industrial Corporation PLC will post 1.53 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on GTES. Wolfe Research restated an “outperform” rating and set a $33.00 target price on shares of Gates Industrial in a research note on Thursday, July 9th. Robert W. Baird reduced their price target 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. Weiss Ratings restated a “hold (c+)” rating on shares of Gates Industrial in a research report on Monday, June 29th. Wall Street Zen cut shares of Gates Industrial from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Morgan Stanley lifted their target price on shares of Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Gates Industrial has an average rating of “Moderate Buy” and a consensus price target of $31.36.

Gates Industrial 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.