325,065 Shares in The Goodyear Tire & Rubber Company $GT Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 325,065 Goodyear shares worth approximately $2.15 million during the second quarter, while institutional investors collectively owned 84.19% of the company.
• Analyst sentiment remains mixed, with Goodyear holding a consensus rating of “Hold” and an average price target of $8.26; targets range from $8.00 at Citigroup to $10.00 at JPMorgan.
• Goodyear reported a quarterly loss of $0.61 per share, slightly better than estimates, and revenue of $4.25 billion, though revenue declined 4.8% year over year. The stock opened at $6.15, near the lower end of its 12-month range.

Deutsche Bank AG acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 325,065 shares of the company's stock, valued at approximately $2,145,000. Deutsche Bank AG owned approximately 0.11% of Goodyear Tire & Rubber at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GT. Wellington Management Group LLP lifted its position in Goodyear Tire & Rubber by 6.3% during the fourth quarter. Wellington Management Group LLP now owns 28,047,790 shares of the company's stock worth $245,699,000 after purchasing an additional 1,666,394 shares during the period. Dimensional Fund Advisors LP grew its stake in Goodyear Tire & Rubber by 8.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,558,938 shares of the company's stock worth $109,778,000 after buying an additional 1,352,085 shares in the last quarter. State Street Corp increased its holdings in Goodyear Tire & Rubber by 0.4% in the 4th quarter. State Street Corp now owns 10,450,140 shares of the company's stock valued at $91,543,000 after buying an additional 36,786 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 151.8% during the 4th quarter. AQR Capital Management LLC now owns 9,764,853 shares of the company's stock worth $85,540,000 after acquiring an additional 5,886,935 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Goodyear Tire & Rubber by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 7,245,230 shares of the company's stock worth $63,479,000 after acquiring an additional 449,911 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

Wall Street Analyst Weigh In

GT has been the subject of several recent analyst reports. Wall Street Zen upgraded Goodyear Tire & Rubber from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Goodyear Tire & Rubber in a research note on Friday, August 7th. Zacks Research upgraded Goodyear Tire & Rubber from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. JPMorgan Chase & Co. increased their target price on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Finally, Citigroup reduced their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of "Hold" and an average target price of $8.26.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock opened at $6.15 on Friday. 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 company has a market capitalization of $1.77 billion, a PE ratio of -0.70 and a beta of 1.12. The Goodyear Tire & Rubber Company has a 12 month low of $5.43 and a 12 month high of $10.62. The stock has a 50-day moving average price of $6.60 and a two-hundred day moving average price of $6.84.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The company had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.19 billion. During the same period in the previous year, the business posted ($0.17) earnings per share. The business's quarterly revenue was down 4.8% compared to the same quarter last year. Analysts expect that The Goodyear Tire & Rubber Company will post -0.43 EPS for the current year.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear's core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

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