Corton Capital Inc. Buys 22,931 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Corton Capital Inc. lifted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 113.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,088 shares of the company's stock after purchasing an additional 22,931 shares during the quarter. Corton Capital Inc.'s holdings in Goodyear Tire & Rubber were worth $388,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. CastleKnight Management LP boosted its stake in Goodyear Tire & Rubber by 23.7% during the fourth quarter. CastleKnight Management LP now owns 268,300 shares of the company's stock worth $2,415,000 after buying an additional 51,400 shares during the period. Cetera Investment Advisers boosted its stake in shares of Goodyear Tire & Rubber by 22.6% during the 4th quarter. Cetera Investment Advisers now owns 69,056 shares of the company's stock worth $622,000 after purchasing an additional 12,737 shares during the period. Brevan Howard Capital Management LP bought a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $606,000. Bridgefront Capital LLC purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth about $344,000. Finally, Baird Financial Group Inc. boosted its position in shares of Goodyear Tire & Rubber by 15.1% during the fourth quarter. Baird Financial Group Inc. now owns 12,296 shares of the company's stock valued at $111,000 after buying an additional 1,617 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GT has been the topic of several research analyst reports. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. 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 target on the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a research report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $11.04 on Tuesday. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.26. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The stock has a market cap of $3.15 billion, a PE ratio of 46.00 and a beta of 1.42. The business has a 50-day simple moving average of $9.61 and a 200-day simple moving average of $9.37.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.91 billion. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber Company Profile

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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