The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Acquired by Twinbeech Capital LP

Twinbeech Capital LP grew its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 483.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 630,488 shares of the company's stock after acquiring an additional 522,430 shares during the period. Twinbeech Capital LP owned about 0.22% of Goodyear Tire & Rubber worth $5,674,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GT. Barclays PLC raised its stake in shares of Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock valued at $8,635,000 after acquiring an additional 598,330 shares during the period. Franklin Resources Inc. raised its stake in shares of Goodyear Tire & Rubber by 11.0% in the 3rd quarter. Franklin Resources Inc. now owns 135,131 shares of the company's stock valued at $1,139,000 after acquiring an additional 13,349 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $349,000. KBC Group NV raised its stake in shares of Goodyear Tire & Rubber by 3,912.0% in the 4th quarter. KBC Group NV now owns 316,186 shares of the company's stock valued at $2,846,000 after acquiring an additional 308,305 shares during the period. Finally, Sippican Capital Advisors purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $842,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GT shares. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research note on Tuesday, February 18th. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 price target (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday. Finally, 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 note on Monday, March 31st. Three 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Goodyear Tire & Rubber Stock Down 1.6%

Shares of GT traded down $0.18 during midday trading on Friday, hitting $10.95. The company had a trading volume of 5,665,060 shares, compared to its average volume of 5,317,250. The company's 50 day moving average price is $10.10 and its 200 day moving average price is $9.60. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of 45.63 and a beta of 1.42. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.58. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company 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 0.37% and a return on equity of 6.21%. The company's revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

About Goodyear Tire & Rubber

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.