Quantbot Technologies LP Takes $3.14 Million Position in The Goodyear Tire & Rubber Company $GT

Key Points

• Quantbot Technologies LP acquired 475,087 Goodyear shares worth approximately $3.14 million, giving it a 0.17% stake. Institutional investors and hedge funds collectively own 84.19% of the company.
• Analyst sentiment remains mixed but leans toward Hold: the stock has a consensus rating of Hold and an average price target of $8.26, with recent targets ranging from $7 to $10.
• Goodyear opened at $5.97, near its 12-month low of $5.43. Although quarterly revenue of $4.25 billion exceeded estimates, revenue declined 4.8% year over year and the company reported a $0.61 per-share loss.

Quantbot Technologies LP acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 475,087 shares of the company's stock, valued at approximately $3,136,000. Quantbot Technologies LP owned 0.17% of Goodyear Tire & Rubber as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 6.3% in the second quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company's stock valued at $177,000 after buying an additional 1,011 shares during the period. Pin Oak Investment Advisors Inc. raised its holdings in shares of Goodyear Tire & Rubber by 1.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company's stock worth $657,000 after acquiring an additional 1,065 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Goodyear Tire & Rubber by 11.5% during the fourth quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company's stock worth $98,000 after acquiring an additional 1,152 shares during the period. Cetera Investment Advisers lifted its position in Goodyear Tire & Rubber by 1.0% in the 4th quarter. Cetera Investment Advisers now owns 131,568 shares of the company's stock valued at $1,153,000 after acquiring an additional 1,282 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Goodyear Tire & Rubber by 2.8% in the 4th quarter. Advisory Services Network LLC now owns 56,631 shares of the company's stock worth $496,000 after purchasing an additional 1,529 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on GT. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 8th. Citigroup decreased their price objective on Goodyear Tire & Rubber from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Friday, May 8th. Finally, Zacks Research raised Goodyear Tire & Rubber from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $8.26.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $5.97 on Monday. The Goodyear Tire & Rubber Company has a 12-month low of $5.43 and a 12-month high of $10.62. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -0.68 and a beta of 1.12. The stock's 50 day moving average price is $6.61 and its two-hundred day moving average price is $6.95. The company has a quick ratio of 0.55, a current ratio of 1.09 and a debt-to-equity ratio of 1.92.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the previous year, the company posted ($0.17) EPS. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post -0.43 earnings per share for the current year.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear's core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

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