58,089 Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 58,089 shares of the company's stock, valued at approximately $537,000.

A number of other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Goodyear Tire & Rubber by 147.5% in the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after purchasing an additional 1,674 shares in the last quarter. UMB Bank n.a. lifted its position in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after buying an additional 1,748 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Goodyear Tire & Rubber by 1,799.1% in the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after buying an additional 3,868 shares in the last quarter. Allworth Financial LP grew its position in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after acquiring an additional 3,059 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Goodyear Tire & Rubber during the fourth quarter valued at approximately $46,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

GT stock traded down $0.27 during midday trading on Friday, reaching $10.24. 7,509,901 shares of the company's stock traded hands, compared to its average volume of 5,596,902. The company has a current ratio of 1.22, a quick ratio of 0.64 and a debt-to-equity ratio of 1.44. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.58. The stock has a market cap of $2.93 billion, a P/E ratio of 12.19, a PEG ratio of 0.30 and a beta of 1.40. The stock's 50-day moving average is $10.82 and its 200 day moving average is $9.78.

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 for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The firm 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 5.31% and a net margin of 1.30%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. As a group, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analysts Set New Price Targets

GT has been the subject of several analyst reports. BNP Paribas upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. restated an "overweight" rating and set a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft upgraded 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. TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective for the company. Finally, Wall Street Zen lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $14.20.

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.