Natixis Advisors LLC Makes New $312,000 Investment in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Key Points

• Natixis Advisors LLC has acquired 33,769 shares of The Goodyear Tire & Rubber Company, valued at approximately $312,000, during the first quarter.
• Analysts have mixed views on Goodyear, with BNP Paribas cutting its rating to "hold" and a target price ranging from $9.00 to $17.00 from other institutions.
• The company's recent earnings report showed a loss of ($0.17) EPS, missing estimates and reflecting a 2.3% year-over-year revenue decline.

Natixis Advisors LLC purchased 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 disclosure with the Securities & Exchange Commission. The fund purchased 33,769 shares of the company's stock, valued at approximately $312,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in Goodyear Tire & Rubber by 3.3% in the first quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company's stock worth $266,000 after buying an additional 932 shares in the last quarter. John G Ullman & Associates Inc. raised its stake in Goodyear Tire & Rubber by 9.1% in the first quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company's stock worth $166,000 after buying an additional 1,500 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Goodyear Tire & Rubber by 15.1% in the fourth 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 during the last quarter. SummerHaven Investment Management LLC grew its holdings in Goodyear Tire & Rubber by 2.3% in the first 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 during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Goodyear Tire & Rubber by 147.5% in the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after purchasing an additional 1,674 shares during the last quarter. Institutional investors own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

GT has been the topic of several analyst reports. BNP Paribas lowered shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a report on Monday, August 11th. BNP Paribas Exane reaffirmed a "neutral" rating and issued a $9.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Finally, Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.80.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT traded down $0.04 on Friday, reaching $8.49. 11,013,227 shares of the company's stock traded hands, compared to its average volume of 8,637,622. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 0.75 and a beta of 1.37. The stock has a 50 day moving average price of $10.52 and a 200-day moving average price of $10.09. 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 debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its 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). The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. Equities research analysts predict 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.