GAMMA Investing LLC lifted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 2,186.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,955 shares of the company's stock after purchasing an additional 24,820 shares during the period. GAMMA Investing LLC's holdings in Goodyear Tire & Rubber were worth $240,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased 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 worth $40,000 after purchasing an additional 3,059 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at about $46,000. Signaturefd LLC grew its stake in shares of Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after buying an additional 1,997 shares during the period. Transce3nd LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $61,000. Finally, Harbour Investments Inc. raised its position in shares of Goodyear Tire & Rubber by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 8,754 shares of the company's stock valued at $79,000 after buying an additional 1,399 shares during the period. Institutional investors and hedge funds own 84.19% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on GT shares. 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. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. BNP Paribas upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating 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 target price for the company in a research note on Monday, March 31st. Finally, BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price target for the company in a research report on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $14.20.
View Our Latest Report on GT
Goodyear Tire & Rubber Trading Up 1.4%
Shares of GT stock traded up $0.14 on Wednesday, hitting $10.38. The stock had a trading volume of 5,288,694 shares, compared to its average volume of 5,654,306. The company's 50 day moving average price is $10.86 and its 200-day moving average price is $9.77. 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 capitalization of $2.97 billion, a P/E ratio of 12.36, a P/E/G ratio of 0.29 and a beta of 1.40. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.22 and a quick ratio of 0.64.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.
Goodyear Tire & Rubber Profile
(
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.
Featured Stories
Before you consider Goodyear Tire & Rubber, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Goodyear Tire & Rubber wasn't on the list.
While Goodyear Tire & Rubber currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
