GAMMA Investing LLC boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 2,186.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 bought and sold shares of the company. Brevan Howard Capital Management LP acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at $606,000. Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at $39,626,000. Capula Management Ltd bought a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth $330,000. Truist Financial Corp boosted its position in shares of Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Goodyear Tire & Rubber by 65.9% in the 4th quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock worth $2,017,000 after purchasing an additional 88,993 shares during the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. restated 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. BNP Paribas upgraded Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. TD Cowen initiated coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. Wall Street Zen downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a research note on Monday, March 31st. Two equities research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $14.20.
Read Our Latest Research Report on GT
Goodyear Tire & Rubber Price Performance
NASDAQ:GT opened at $10.24 on Friday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22. The stock's 50-day simple moving average is $10.83 and its 200 day simple moving average is $9.76. The company has a market cap of $2.93 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.29 and a beta of 1.40. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.58.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate 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 revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS 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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