Twinbeech Capital LP lifted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 483.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 630,488 shares of the company's stock after buying an additional 522,430 shares during the quarter. Twinbeech Capital LP owned about 0.22% of Goodyear Tire & Rubber worth $5,674,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its holdings in shares of Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after acquiring an additional 3,059 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $46,000. Signaturefd LLC increased its stake in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after buying an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at $54,000. Finally, Transce3nd LLC acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at $61,000. Hedge funds and other institutional investors own 84.19% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on GT. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a research note on Monday, March 31st. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. Finally, StockNews.com cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of "Moderate Buy" and an average price target of $13.25.
Check Out Our Latest Report on GT
Goodyear Tire & Rubber Stock Performance
NASDAQ:GT opened at $10.64 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.97. The stock has a market cap of $3.04 billion, a PE ratio of 44.34 and a beta of 1.42. The firm's fifty day simple moving average is $9.96 and its 200-day simple moving average is $9.56.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The firm had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm's revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. Analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.
Goodyear Tire & Rubber Company Profile
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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.
Further Reading
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