236,400 Shares in The Goodyear Tire & Rubber Company $GT Purchased by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd acquired 236,400 Goodyear shares during the second quarter, valued at approximately $1.56 million and representing about 0.08% of the company.
• Institutional investors own 84.19% of Goodyear’s stock. Analysts have a consensus “Hold” rating with an average price target of $8.26, despite mixed recommendations.
• Goodyear reported a quarterly loss of $0.61 per share on $4.25 billion in revenue, while revenue declined 4.8% year over year. The stock opened at $5.37, near its 52-week low of $5.35.

WINTON GROUP Ltd acquired a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 236,400 shares of the company's stock, valued at approximately $1,560,000. WINTON GROUP Ltd owned approximately 0.08% of Goodyear Tire & Rubber as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EFG International AG acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $26,000. Los Angeles Capital Management LLC bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $26,000. Focus Partners Wealth bought a new position in Goodyear Tire & Rubber in the third quarter valued at approximately $25,000. Nykredit A S acquired a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $27,000. Finally, Allworth Financial LP acquired a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $33,000. 84.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their target price on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Goodyear Tire & Rubber in a report on Friday, August 7th. Wall Street Zen upgraded Goodyear Tire & Rubber from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Zacks Research raised Goodyear Tire & Rubber from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.26.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $5.37 on Friday. The stock's 50-day moving average is $6.51 and its 200-day moving average is $6.60. The Goodyear Tire & Rubber Company has a 1-year low of $5.35 and a 1-year high of $10.62. The company has a current ratio of 1.09, a quick ratio of 0.55 and a debt-to-equity ratio of 1.92. The stock has a market cap of $1.55 billion, a P/E ratio of -0.61 and a beta of 1.10.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative net margin of 14.37% and a negative return on equity of 2.95%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter last year, the business earned ($0.17) EPS. The firm's quarterly revenue was down 4.8% on a year-over-year basis. Equities research analysts anticipate that The Goodyear Tire & Rubber Company will post -0.43 earnings per share for the current year.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Company develops, manufactures, markets and distributes tires and related products and services. Its portfolio includes tires for passenger cars, SUVs, trucks, buses, commercial fleets, aircraft, mining and other off-the-road applications. The company serves both original-equipment manufacturers and replacement-tire customers.

Goodyear markets products primarily under the Goodyear brand, along with other brands and private-label offerings. Its business also includes tire-related services, fleet support, vehicle maintenance and mobility solutions designed to help commercial customers manage their transportation operations.

Founded in 1898 and headquartered in Akron, Ohio, Goodyear has built a global presence through manufacturing, distribution, retail and service operations.

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