Caxton Associates LLP Acquires New Stake in The Goodyear Tire & Rubber Company $GT

Key Points

• Caxton Associates LLP acquired a new stake of 122,399 shares in The Goodyear Tire & Rubber Company, valued at approximately $1,131,000.
• Several large investors, including Nisa Investment Advisors LLC and Baird Financial Group Inc., have increased their holdings in Goodyear, with institutional investors now owning 84.19% of the company's stock.
• Goodyear reported a quarterly loss, with an earnings per share (EPS) of ($0.17), missing analysts' consensus estimates of $0.14, and its revenue declined by 2.3% year-over-year.

Caxton Associates LLP 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 122,399 shares of the company's stock, valued at approximately $1,131,000.

Several other large investors also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its holdings in shares of Goodyear Tire & Rubber by 3.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock worth $266,000 after purchasing an additional 932 shares in the last quarter. John G Ullman & Associates Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 9.1% in the 1st quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company's stock worth $166,000 after purchasing an additional 1,500 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 15.1% in the 4th quarter. Baird Financial Group Inc. now owns 12,296 shares of the company's stock worth $111,000 after purchasing an additional 1,617 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Goodyear Tire & Rubber by 2.3% in the 1st quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company's stock worth $677,000 after purchasing an additional 1,621 shares in the last quarter. Finally, 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. Institutional investors own 84.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GT. Citigroup began coverage on Goodyear Tire & Rubber in a report on Monday. They issued a "neutral" rating and a $10.00 price objective for the company. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. BNP Paribas Exane reiterated a "neutral" rating and issued a $9.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. BNP Paribas cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, HSBC reissued a "hold" rating and issued a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.93.

Goodyear Tire & Rubber Stock Down 0.5%

Shares of NASDAQ:GT opened at $8.55 on Wednesday. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $12.03. The company has a market cap of $2.45 billion, a PE ratio of 6.02, a P/E/G ratio of 0.76 and a beta of 1.37. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The stock's 50-day moving average is $9.74 and its 200 day moving average is $10.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The business had revenue of $4.47 billion for the quarter, compared to analysts' expectations of $4.50 billion. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

About Goodyear Tire & Rubber

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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