Wedge Capital Management L L P NC Increases Stake in Gates Industrial Corporation PLC $GTES

Wedge Capital Management L L P NC lifted its stake in shares of Gates Industrial Corporation PLC (NYSE:GTES) by 5.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 678,551 shares of the company’s stock after buying an additional 32,065 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Gates Industrial were worth $18,979,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GTES. Paradice Investment Management LLC grew its holdings in Gates Industrial by 8.1% during the 4th quarter. Paradice Investment Management LLC now owns 1,292,301 shares of the company’s stock worth $27,746,000 after acquiring an additional 97,382 shares in the last quarter. Van Berkom & Associates Inc. purchased a new stake in shares of Gates Industrial during the 4th quarter worth $68,614,000. California State Teachers Retirement System grew its stake in shares of Gates Industrial by 24.2% during the first quarter. California State Teachers Retirement System now owns 303,123 shares of the company’s stock worth $6,854,000 after purchasing an additional 58,990 shares in the last quarter. Kennedy Capital Management LLC grew its stake in shares of Gates Industrial by 6.7% during the fourth quarter. Kennedy Capital Management LLC now owns 1,528,525 shares of the company’s stock worth $32,817,000 after purchasing an additional 96,392 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Gates Industrial by 708.1% in the first quarter. Y Intercept Hong Kong Ltd now owns 257,930 shares of the company’s stock valued at $5,832,000 after buying an additional 226,012 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Gates Industrial

In related news, Director Peifang Zhang sold 6,000 shares of Gates Industrial stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $29.56, for a total transaction of $177,360.00. Following the completion of the sale, the director owned 44,044 shares in the company, valued at approximately $1,301,940.64. This trade represents a 11.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

GTES has been the subject of several research analyst reports. Royal Bank Of Canada upped their target price on shares of Gates Industrial from $33.00 to $34.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Citigroup increased their target price on shares of Gates Industrial from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Wall Street Zen raised Gates Industrial from a “hold” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded Gates Industrial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Finally, Robert W. Baird upped their price objective on Gates Industrial from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Gates Industrial Stock Performance

Shares of GTES opened at $28.52 on Wednesday. The stock has a market capitalization of $7.22 billion, a P/E ratio of 20.23 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. Gates Industrial Corporation PLC has a 1 year low of $20.88 and a 1 year high of $30.34. The company’s fifty day moving average is $27.16 and its two-hundred day moving average is $25.70.

Gates Industrial (NYSE:GTES) last issued its earnings results on Friday, July 31st. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. The business 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 business’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 earnings per share. Gates Industrial has set its FY 2026 guidance at 1.620-1.700 EPS. On average, sell-side analysts predict that Gates Industrial Corporation PLC will post 1.53 earnings per share 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.