Truist Financial Corp Has $2.41 Million Stock Holdings in Gates Industrial Corporation PLC $GTES

Truist Financial Corp decreased its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 58.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,333 shares of the company’s stock after selling 158,033 shares during the period. Truist Financial Corp’s holdings in Gates Industrial were worth $2,412,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in shares of Gates Industrial in the first quarter worth approximately $381,000. Creative Planning raised its stake in shares of Gates Industrial by 53.9% in 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 during the last quarter. Prudential Financial Inc. raised its stake in shares of Gates Industrial by 52.7% in the second quarter. Prudential Financial Inc. now owns 17,940 shares of the company’s stock worth $389,000 after purchasing an additional 6,190 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Gates Industrial by 273.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,911 shares of the company’s stock worth $67,000 after purchasing an additional 2,131 shares during the last quarter. Finally, M&T Bank Corp raised its stake in shares of Gates Industrial by 8.6% in the second quarter. M&T Bank Corp now owns 11,801 shares of the company’s stock worth $272,000 after purchasing an additional 937 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Stock Performance

Shares of Gates Industrial stock opened at $25.39 on Thursday. The business’s fifty day simple moving average is $24.30 and its 200 day simple moving average is $23.72. The firm has a market capitalization of $6.45 billion, a P/E ratio of 26.44 and a beta of 1.28. Gates Industrial Corporation PLC has a 12 month low of $20.39 and a 12 month high of $28.47. The company has a current ratio of 3.67, a quick ratio of 2.66 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $851.10 million for the quarter, compared to analyst estimates of $859.72 million. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.Gates Industrial’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, analysts anticipate that Gates Industrial Corporation PLC will post 1.53 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on GTES shares. UBS Group reissued a “buy” rating and issued a $33.00 price objective on shares of Gates Industrial in a research note on Friday, February 13th. Citigroup increased their target price on shares of Gates Industrial from $27.00 to $33.00 and gave the company a “buy” rating in a report on Friday, February 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Gates Industrial in a report on Friday, February 13th. 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 report on Wednesday, April 1st. Finally, Weiss Ratings downgraded shares of Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.18.

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.