DG Capital Management LLC bought a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 533,593 shares of the company's stock, valued at approximately $4,930,000. Goodyear Tire & Rubber accounts for 1.7% of DG Capital Management LLC's holdings, making the stock its 13th largest position. DG Capital Management LLC owned about 0.19% of Goodyear Tire & Rubber as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Goodyear Tire & Rubber by 32.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 12,205 shares of the company's stock valued at $113,000 after buying an additional 2,956 shares during the last quarter. Hsbc Holdings PLC grew its position in Goodyear Tire & Rubber by 73.1% in the first quarter. Hsbc Holdings PLC now owns 151,078 shares of the company's stock worth $1,394,000 after acquiring an additional 63,800 shares in the last quarter. Algert Global LLC bought a new stake in Goodyear Tire & Rubber in the first quarter worth approximately $3,107,000. American Century Companies Inc. increased its stake in shares of Goodyear Tire & Rubber by 11.7% during the 1st quarter. American Century Companies Inc. now owns 10,786,387 shares of the company's stock worth $99,666,000 after purchasing an additional 1,134,058 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Goodyear Tire & Rubber during the 1st quarter valued at $239,000. Institutional investors and hedge funds own 84.19% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have commented on GT. HSBC reissued a "hold" rating and set a $9.50 target price (down from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. BNP Paribas Exane restated a "neutral" rating and issued a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.25.
Read Our Latest Stock Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Price Performance
GT stock traded down $0.04 during trading on Thursday, hitting $8.52. The company had a trading volume of 4,595,400 shares, compared to its average volume of 6,527,553. The company has a fifty day moving average price of $10.09 and a two-hundred day moving average price of $10.07. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.03. The company has a market cap of $2.44 billion, a P/E ratio of 6.00, a P/E/G ratio of 0.75 and a beta of 1.37. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the business posted $0.19 earnings per share. The firm's revenue was down 2.3% compared to the same quarter last year. Equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.
About Goodyear Tire & Rubber
(
Free Report)
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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