Gates Industrial Corporation PLC $GTES Shares Purchased by Tectonic Advisors LLC

Tectonic Advisors LLC lifted its holdings in Gates Industrial Corporation PLC (NYSE:GTES) by 15.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,190 shares of the company’s stock after purchasing an additional 3,236 shares during the period. Tectonic Advisors LLC’s holdings in Gates Industrial were worth $557,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SVB Wealth LLC acquired a new position in shares of Gates Industrial in the 1st quarter worth approximately $34,000. Steph & Co. acquired a new position in shares of Gates Industrial in the 2nd quarter worth approximately $70,000. Avanza Fonder AB acquired a new position in shares of Gates Industrial in the 1st quarter worth approximately $145,000. GAMMA Investing LLC grew its stake in shares of Gates Industrial by 81.0% in the 1st quarter. GAMMA Investing LLC now owns 9,099 shares of the company’s stock worth $168,000 after purchasing an additional 4,073 shares during the last quarter. Finally, Aristeia Capital L.L.C. acquired a new position in shares of Gates Industrial in the 1st quarter worth approximately $193,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Gates Industrial Price Performance

NYSE GTES opened at $24.46 on Friday. The company has a quick ratio of 2.46, a current ratio of 3.46 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $6.30 billion, a PE ratio of 31.36 and a beta of 1.25. The company has a 50 day moving average price of $25.09 and a two-hundred day moving average price of $22.49. Gates Industrial Corporation PLC has a 12-month low of $14.70 and a 12-month high of $26.42.

Gates Industrial (NYSE:GTES) last posted its earnings results on Wednesday, July 30th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $883.70 million during the quarter, compared to analysts’ expectations of $873.34 million. Gates Industrial had a net margin of 5.98% and a return on equity of 10.17%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. Gates Industrial has set its FY 2025 guidance at 1.440-1.520 EPS. As a group, equities analysts predict that Gates Industrial Corporation PLC will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on GTES. Royal Bank Of Canada lifted their target price on shares of Gates Industrial from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. UBS Group lifted their target price on shares of Gates Industrial from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Zacks Research raised shares of Gates Industrial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Gates Industrial in a research report on Wednesday. Finally, Barclays reissued an “overweight” rating and issued a $28.00 target price (up from $26.00) on shares of Gates Industrial in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.18.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.