The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Bought by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP lifted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 32.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,863 shares of the company's stock after purchasing an additional 86,210 shares during the period. Hudson Bay Capital Management LP owned about 0.12% of Goodyear Tire & Rubber worth $3,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GT. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $39,626,000. Capula Management Ltd bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $330,000. Brevan Howard Capital Management LP acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $606,000. Truist Financial Corp boosted its stake in Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after acquiring an additional 1,115 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Goodyear Tire & Rubber by 65.9% during the 4th quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock valued at $2,017,000 after acquiring an additional 88,993 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GT has been the subject of several research analyst reports. StockNews.com downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a report on Monday, March 31st. Finally, TD Cowen began coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price target for the company. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.25.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $10.97 on Tuesday. The company has a market cap of $3.13 billion, a PE ratio of 45.71 and a beta of 1.42. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. The firm has a 50-day simple moving average of $9.80 and a 200 day simple moving average of $9.46. 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 posted its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business's revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. On average, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber Company 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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