67,345 Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT) Bought by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 67,345 shares of the company’s stock, valued at approximately $606,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Truist Financial Corp boosted its position 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 buying an additional 1,115 shares during the period. Amalgamated Bank raised its stake in shares of Goodyear Tire & Rubber by 0.9% during the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock valued at $1,147,000 after acquiring an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock worth $110,000 after purchasing an additional 1,209 shares during the last quarter. Barnett & Company Inc. grew its stake in shares of Goodyear Tire & Rubber by 1.4% in the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock worth $861,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in Goodyear Tire & Rubber by 19.0% during the 4th quarter. Harbour Investments Inc. now owns 8,754 shares of the company’s stock valued at $79,000 after purchasing an additional 1,399 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GT shares. TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a “buy” rating and a $14.00 price objective on the stock. Argus upgraded 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 report on Tuesday, February 18th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Monday, March 31st. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average price target of $13.25.

Goodyear Tire & Rubber Stock Down 0.7 %

Shares of Goodyear Tire & Rubber stock opened at $10.86 on Friday. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.26. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The company has a 50-day moving average of $9.76 and a 200 day moving average of $9.43. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 45.25 and a beta of 1.42.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The firm had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same period in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal 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.