755,890 Shares in Gates Industrial Corporation PLC $GTES Acquired by Diamond Hill Capital Management LLC Investment Advisor

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Gates Industrial Corporation PLC (NYSE:GTES) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 755,890 shares of the company’s stock, valued at approximately $21,142,000.

A number of other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Gates Industrial by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 11,546,581 shares of the company’s stock valued at $261,040,000 after buying an additional 295,706 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Gates Industrial by 98.7% during the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after acquiring an additional 4,158,341 shares during the period. Invesco Ltd. lifted its stake in shares of Gates Industrial by 5.9% during the fourth quarter. Invesco Ltd. now owns 8,322,654 shares of the company’s stock valued at $178,687,000 after acquiring an additional 461,160 shares during the period. State Street Corp boosted its holdings in Gates Industrial by 3.0% in the fourth quarter. State Street Corp now owns 7,971,572 shares of the company’s stock valued at $171,150,000 after acquiring an additional 232,447 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Gates Industrial by 5.5% in the fourth quarter. Franklin Resources Inc. now owns 7,305,065 shares of the company’s stock valued at $156,840,000 after acquiring an additional 381,896 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GTES shares. KeyCorp boosted their price objective on Gates Industrial from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Citigroup raised their target price on shares of Gates Industrial from $33.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Gates Industrial from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised shares of Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Insider Transactions at Gates Industrial

In other Gates Industrial news, Director Peifang Zhang sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $29.56, for a total value of $177,360.00. Following the completion of the sale, the director owned 44,044 shares of the company’s stock, valued at approximately $1,301,940.64. This represents a 11.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Gates Industrial Price Performance

Gates Industrial stock opened at $27.75 on Monday. The firm has a market capitalization of $7.02 billion, a P/E ratio of 19.68 and a beta of 1.25. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $30.34. The business has a 50-day moving average of $27.27 and a 200-day moving average of $25.80. The company has a current ratio of 3.24, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58.

Gates Industrial (NYSE:GTES) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $941.60 million during the quarter, compared to analysts’ expectations of $927.28 million. Gates Industrial had a return on equity of 10.11% and a net margin of 10.37%.Gates Industrial’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $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 EPS for the current year.

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.