Readystate Asset Management LP trimmed its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 981,519 shares of the company's stock after selling 39,036 shares during the quarter. Readystate Asset Management LP owned 0.34% of Goodyear Tire & Rubber worth $9,069,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GT. Proficio Capital Partners LLC bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth $213,000. Raymond James Financial Inc. bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $193,000. PNC Financial Services Group Inc. lifted its position in Goodyear Tire & Rubber by 9.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,927 shares of the company's stock valued at $206,000 after acquiring an additional 1,926 shares in the last quarter. Harbour Investments Inc. lifted its position in Goodyear Tire & Rubber by 19.0% in the 4th quarter. Harbour Investments Inc. now owns 8,754 shares of the company's stock valued at $79,000 after acquiring an additional 1,399 shares in the last quarter. Finally, Cibc World Markets Corp bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $240,000. 84.19% of the stock is owned by institutional investors.
Goodyear Tire & Rubber Price Performance
NASDAQ:GT traded down $0.37 on Friday, hitting $10.91. The company had a trading volume of 6,692,511 shares, compared to its average volume of 6,113,903. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 0.36 and a beta of 1.35. The company has a current ratio of 1.22, a quick ratio of 0.64 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $10.98 and a two-hundred day moving average of $10.02. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.26.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. On average, research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.
Analyst Ratings Changes
Several equities research analysts have commented on GT shares. BNP Paribas Exane raised shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price target on the stock in a research report on Monday, June 9th. BNP Paribas raised shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a research report on Monday, March 31st. Finally, Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $14.20.
Check Out Our Latest Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Company 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.
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