Gates Industrial Corporation PLC $GTES Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,305,065 shares of the company’s stock after purchasing an additional 381,896 shares during the quarter. Franklin Resources Inc. owned about 2.83% of Gates Industrial worth $156,840,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Gates Industrial in the first quarter valued at approximately $381,000. Creative Planning grew its stake in shares of Gates Industrial by 53.9% during the second quarter. Creative Planning now owns 15,435 shares of the company’s stock worth $355,000 after purchasing an additional 5,404 shares in the last quarter. Prudential Financial Inc. boosted its stake in Gates Industrial by 52.7% in the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock valued at $389,000 after acquiring an additional 6,190 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock valued at $67,000 after acquiring an additional 2,131 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Gates Industrial by 8.6% in the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock valued at $272,000 after acquiring an additional 937 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Down 4.1%

Shares of GTES opened at $25.32 on Thursday. The firm has a market cap of $6.43 billion, a PE ratio of 26.38 and a beta of 1.27. The company’s fifty day moving average is $25.04 and its two-hundred day moving average is $24.11. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $28.47. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last issued 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 for the quarter, compared to the consensus estimate of $859.72 million. During the same quarter last year, the firm posted $0.36 EPS. The business’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. Analysts forecast that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $31.00 target price on shares of Gates Industrial in a report on Friday, February 13th. Robert W. Baird dropped 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 note on Monday, May 4th. Weiss Ratings lowered shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 1st. Barclays decreased their price target on shares of Gates Industrial from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Finally, Morgan Stanley lifted their price target on shares of Gates Industrial from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Seven investment 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 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.