5,111 Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,111 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares in the last quarter. Signaturefd LLC raised its holdings in Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $54,000. Transce3nd LLC bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $79,000. Institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Monday, March 31st. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, February 18th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. Finally, TD Cowen started coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and an average price target of $13.25.

Goodyear Tire & Rubber Stock Down 2.4%

Shares of Goodyear Tire & Rubber stock opened at $10.77 on Monday. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.97. 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 company’s 50 day moving average is $9.93 and its 200 day moving average is $9.54. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 44.88 and a beta of 1.42.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate 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 prior year, the firm earned $0.10 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate 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.