32,100 Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT) Acquired by Caas Capital Management LP

Caas Capital Management LP bought a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 32,100 shares of the company's stock, valued at approximately $297,000.

Several other large investors have also bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Goodyear Tire & Rubber by 147.5% during the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after buying an additional 1,674 shares during the last quarter. UMB Bank n.a. increased its holdings in Goodyear Tire & Rubber by 125.9% during the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after buying an additional 1,748 shares during the last quarter. Cloud Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the first quarter worth approximately $33,000. Farther Finance Advisors LLC boosted its position in shares of 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 purchasing an additional 3,868 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $46,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on GT shares. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. BNP Paribas Exane raised shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price objective for the company in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a report on Monday, March 31st. Finally, BNP Paribas raised shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $14.20.

Goodyear Tire & Rubber Trading Down 2.3%

Shares of GT traded down $0.26 during midday trading on Friday, hitting $11.19. The stock had a trading volume of 6,503,249 shares, compared to its average volume of 5,830,134. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $12.58. The firm has a market cap of $3.20 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.33 and a beta of 1.35. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.22 and a quick ratio of 0.64. The stock's 50 day moving average is $10.98 and its 200 day moving average is $9.91.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal 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.