Duality Advisers LP acquired a new stake in shares of Goodyear Tire & Rubber Co (NASDAQ:GT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 134,970 shares of the company’s stock, valued at approximately $1,207,000. Duality Advisers LP owned approximately 0.06% of Goodyear Tire & Rubber as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Goodyear Tire & Rubber by 7.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,445 shares of the company’s stock worth $505,000 after acquiring an additional 4,003 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Goodyear Tire & Rubber by 55.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 33,990 shares of the company’s stock worth $304,000 after purchasing an additional 12,071 shares in the last quarter. Ziegler Capital Management LLC bought a new stake in Goodyear Tire & Rubber in the second quarter valued at about $827,000. Heritage Investors Management Corp bought a new position in Goodyear Tire & Rubber during the 2nd quarter worth approximately $126,000. Finally, World Asset Management Inc increased its holdings in shares of Goodyear Tire & Rubber by 15.0% in the 2nd quarter. World Asset Management Inc now owns 38,520 shares of the company’s stock valued at $345,000 after acquiring an additional 5,019 shares during the last quarter. Institutional investors own 79.54% of the company’s stock.
A number of research analysts have recently issued reports on GT shares. Nomura restated a “buy” rating and issued a $11.00 price target on shares of Goodyear Tire & Rubber in a research report on Wednesday, May 6th. BidaskClub cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. ValuEngine upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Friday, May 1st. Cfra dropped their price target on Goodyear Tire & Rubber from $16.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Finally, Deutsche Bank reduced their price objective on Goodyear Tire & Rubber from $7.00 to $5.00 and set a “hold” rating for the company in a research report on Tuesday, May 5th. Eight equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Goodyear Tire & Rubber presently has an average rating of “Buy” and an average target price of $11.35.
Shares of GT stock opened at $9.01 on Friday. Goodyear Tire & Rubber Co has a 1 year low of $4.09 and a 1 year high of $17.20. The firm has a market capitalization of $2.10 billion, a PE ratio of -2.42 and a beta of 2.05. The stock has a fifty day moving average of $9.13 and a two-hundred day moving average of $9.09. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.62 and a current ratio of 1.17.
Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Friday, July 31st. The company reported ($1.87) earnings per share for the quarter, topping the consensus estimate of ($2.11) by $0.24. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.90 billion. Goodyear Tire & Rubber had a negative net margin of 6.12% and a positive return on equity of 1.48%. The company’s quarterly revenue was down 41.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. Equities research analysts predict that Goodyear Tire & Rubber Co will post -2.44 earnings per share for the current fiscal year.
Goodyear Tire & Rubber Company Profile
The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
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