The Goodyear Tire & Rubber Company $GT Shares Purchased by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in The Goodyear Tire & Rubber Company by 700.4% during the 1st quarter, now owning over 1.22 million shares valued at approximately $11.2 million.
• The company reported an earnings per share (EPS) of (0.17), missing analysts' estimates significantly, as it faced a 2.3% decline in quarterly revenue compared to the previous year.
• Several institutional investors have recently adjusted their holdings, with overall institutional ownership now at 84.19% of the company's stock.

AQR Capital Management LLC boosted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 700.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,228,982 shares of the company's stock after acquiring an additional 1,075,444 shares during the period. AQR Capital Management LLC owned 0.43% of Goodyear Tire & Rubber worth $11,233,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Goodyear Tire & Rubber by 147.5% in the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after acquiring an additional 1,674 shares during the period. UMB Bank n.a. increased its position in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after acquiring an additional 1,748 shares during the period. Cloud Capital Management LLC acquired a new position in Goodyear Tire & Rubber in the 1st quarter valued at about $33,000. Farther Finance Advisors LLC increased its position in Goodyear Tire & Rubber by 1,799.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after purchasing an additional 3,868 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

GT stock opened at $8.56 on Thursday. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year 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. The stock's 50 day moving average price is $9.69 and its 200 day moving average price is $10.02. The firm has a market cap of $2.45 billion, a P/E ratio of 6.03, a PEG ratio of 0.76 and a beta of 1.37.

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). 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 during the quarter, compared to analysts' expectations of $4.50 billion. During the same period in the previous year, the company posted $0.19 EPS. Goodyear Tire & Rubber's quarterly revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GT. Hsbc Global Res cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft dropped their target price on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. BNP Paribas cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 8th. HSBC reiterated a "hold" rating and set a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. Finally, BNP Paribas Exane reiterated a "neutral" rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.93.

Goodyear Tire & Rubber 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.

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