Renaissance Technologies LLC Raises Holdings in Gates Industrial Corporation PLC $GTES

Renaissance Technologies LLC lifted its position in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 20.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 365,100 shares of the company’s stock after acquiring an additional 61,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Gates Industrial were worth $8,255,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in shares of Gates Industrial in the fourth quarter valued at about $26,000. Transamerica Financial Advisors LLC increased its position in Gates Industrial by 51.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,577 shares of the company’s stock valued at $34,000 after purchasing an additional 539 shares during the period. Fifth Third Bancorp raised its holdings in shares of Gates Industrial by 46.3% in the 1st quarter. Fifth Third Bancorp now owns 1,624 shares of the company’s stock valued at $37,000 after purchasing an additional 514 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Gates Industrial by 37.7% in the 1st quarter. Parallel Advisors LLC now owns 2,536 shares of the company’s stock worth $57,000 after purchasing an additional 694 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Gates Industrial by 273.2% in the 2nd 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 period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Key Stories Impacting Gates Industrial

Here are the key news stories impacting Gates Industrial this week:

• Positive Sentiment: Strong quarterly results and raised guidance: Gates reported second-quarter earnings of $0.44 per share, exceeding the $0.42 consensus estimate, while revenue of $941.6 million surpassed expectations of $927.3 million. Revenue increased 6.6% year over year, and the company raised its FY2026 EPS guidance to $1.62-$1.70. These Analysts Boost Their Forecasts On Gates Industrial After Better-Than-Expected Q2 Earnings
• Positive Sentiment: JPMorgan raised its outlook: JPMorgan Chase increased its price target from $32 to $34 and upgraded or maintained an “overweight” rating, signaling confidence in Gates’ earnings momentum and future performance. Benzinga
• Positive Sentiment: RBC increased its target: Royal Bank of Canada raised its price target from $33 to $34 and maintained an “outperform” rating, adding to the bullish analyst sentiment following the quarterly report. Benzinga
• Positive Sentiment: Baird sees substantial upside: Robert W. Baird lifted its price target from $37 to $39 and retained an “outperform” rating, implying the most optimistic valuation among the reported analyst updates. Benzinga
• Neutral Sentiment: Wells Fargo raised its target but remained cautious: Wells Fargo increased its price target from $26 to $30 while keeping an “equal weight” rating, indicating limited near-term valuation upside compared with the more bullish firms. Benzinga

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GTES shares. Wells Fargo & Company lifted their price objective on shares of Gates Industrial from $26.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank Of Canada upped their target price on Gates Industrial from $33.00 to $34.00 and gave the stock an “outperform” rating in a report on Monday. JPMorgan Chase & Co. increased their target price on Gates Industrial from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday. Robert W. Baird lifted their price target on Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Monday. Finally, Citigroup boosted their price target on Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Gates Industrial has an average rating of “Moderate Buy” and an average target price of $33.00.

Gates Industrial Stock Up 4.9%

NYSE:GTES opened at $29.36 on Tuesday. Gates Industrial Corporation PLC has a fifty-two week low of $20.88 and a fifty-two week high of $29.40. The stock has a market capitalization of $7.46 billion, a P/E ratio of 20.82 and a beta of 1.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.36 and a current ratio of 3.24. The company’s 50-day simple moving average is $26.80 and its 200-day simple moving average is $25.45.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings data on Friday, July 31st. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $941.60 million for the quarter, compared to the consensus estimate of $927.28 million. Gates Industrial had a net margin of 10.37% and a return on equity of 10.11%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, equities analysts anticipate that Gates Industrial Corporation PLC will post 1.53 earnings per share for the current fiscal year.

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.