Balyasny Asset Management L.P. Boosts Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Balyasny Asset Management L.P. boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 84.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,600 shares of the company's stock after acquiring an additional 93,132 shares during the period. Balyasny Asset Management L.P. owned 0.07% of Goodyear Tire & Rubber worth $1,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP increased its stake in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after purchasing an additional 3,059 shares in the last quarter. Signaturefd LLC increased its stake in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $54,000. Transce3nd LLC acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $79,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $10.97 on Tuesday. The stock has a market capitalization of $3.13 billion, a P/E ratio of 45.71 and a beta of 1.42. The company's fifty day moving average price is $9.80 and its 200 day moving average price is $9.46. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Goodyear Tire & Rubber's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

GT has been the topic of a number of research reports. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. StockNews.com lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.25.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.

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