London Co. of Virginia Sells 61,546 Shares of Gates Industrial Corporation PLC $GTES

London Co. of Virginia lessened its stake in Gates Industrial Corporation PLC (NYSE:GTES) by 4.2% in the fourth quarter, HoldingsChannel reports. The firm owned 1,411,837 shares of the company’s stock after selling 61,546 shares during the period. London Co. of Virginia’s holdings in Gates Industrial were worth $30,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Gates Industrial by 5.0% in the third quarter. Vanguard Group Inc. now owns 26,753,365 shares of the company’s stock valued at $664,019,000 after purchasing an additional 1,281,339 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Gates Industrial by 5.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 14,169,457 shares of the company’s stock valued at $312,578,000 after purchasing an additional 717,353 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Gates Industrial by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,250,875 shares of the company’s stock valued at $241,562,000 after purchasing an additional 400,359 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Gates Industrial by 98.7% in the fourth quarter. JPMorgan Chase & Co. now owns 8,373,294 shares of the company’s stock valued at $179,775,000 after purchasing an additional 4,158,341 shares during the last quarter. Finally, State Street Corp increased 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 purchasing an additional 232,447 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Gates Industrial from a “strong-buy” rating to a “buy” rating in a report on Sunday, May 10th. Weiss Ratings downgraded Gates Industrial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 1st. Robert W. Baird lowered their price target on Gates Industrial from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, May 4th. 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 report on Friday, May 29th. Finally, Barclays lowered their price target on Gates Industrial from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Gates Industrial Stock Performance

GTES opened at $27.70 on Wednesday. Gates Industrial Corporation PLC has a 12-month low of $20.88 and a 12-month high of $28.47. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 28.86 and a beta of 1.27. The business has a 50 day moving average of $25.43 and a 200-day moving average of $24.25. The company has a quick ratio of 2.66, a current ratio of 3.67 and a debt-to-equity ratio of 0.61.

Gates Industrial (NYSE:GTES) last released its quarterly earnings data on Friday, May 1st. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Gates Industrial had a return on equity of 10.00% and a net margin of 7.23%.The company had revenue of $851.10 million during the quarter, compared to analysts’ expectations of $859.72 million. During the same period last year, the firm posted $0.36 earnings per share. The business’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. On average, equities research analysts expect that Gates Industrial Corporation PLC will post 1.54 earnings per share for the current 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.