Legal & General Group Plc Has $13.70 Million Stock Holdings in Gates Industrial Corporation PLC $GTES

Legal & General Group Plc decreased its holdings in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 637,985 shares of the company’s stock after selling 31,621 shares during the period. Legal & General Group Plc owned about 0.25% of Gates Industrial worth $13,698,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GTES. Hantz Financial Services Inc. lifted its position in shares of Gates Industrial by 2.9% during the 4th quarter. Hantz Financial Services Inc. now owns 109,931 shares of the company’s stock worth $2,360,000 after buying an additional 3,137 shares during the period. FourThought Financial Partners LLC acquired a new position in Gates Industrial during the fourth quarter worth $218,000. Global Retirement Partners LLC raised its stake in Gates Industrial by 141.5% during the fourth quarter. Global Retirement Partners LLC now owns 4,675 shares of the company’s stock worth $100,000 after acquiring an additional 2,739 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Gates Industrial by 16.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 26,948 shares of the company’s stock valued at $579,000 after acquiring an additional 3,721 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Gates Industrial by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 59,085 shares of the company’s stock valued at $1,269,000 after acquiring an additional 1,100 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GTES has been the topic of several analyst reports. Robert W. Baird lowered their target price on shares of Gates Industrial from $39.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Royal Bank Of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Gates Industrial in a research report on Friday, February 13th. UBS Group reaffirmed a “buy” rating and set a $33.00 price objective on shares of Gates Industrial in a report on Friday, February 13th. Barclays reduced their target price on 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 increased their price target on Gates Industrial from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Gates Industrial Stock Up 2.9%

Shares of NYSE:GTES opened at $26.59 on Wednesday. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61. The firm has a market cap of $6.75 billion, a P/E ratio of 27.69 and a beta of 1.27. Gates Industrial Corporation PLC has a 12 month low of $20.88 and a 12 month high of $28.47. The company’s 50-day moving average price is $24.54 and its two-hundred day moving average price is $23.90.

Gates Industrial (NYSE:GTES) last announced its earnings results on Friday, May 1st. The company reported $0.35 earnings per share for the quarter, topping 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 company had revenue of $851.10 million during the quarter, compared to the consensus estimate of $859.72 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up .4% on a year-over-year basis. Gates Industrial has set its FY 2026 guidance at 1.520-1.680 EPS. As a group, research analysts forecast that Gates Industrial Corporation PLC will post 1.53 EPS for the current fiscal year.

About Gates Industrial

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.