The Goodyear Tire & Rubber Company $GT Shares Bought by Readystate Asset Management LP

Readystate Asset Management LP grew its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 105.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,871,597 shares of the company’s stock after buying an additional 960,440 shares during the quarter. Readystate Asset Management LP’s holdings in Goodyear Tire & Rubber were worth $14,000,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Goodyear Tire & Rubber by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock valued at $1,567,000 after acquiring an additional 7,453 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Goodyear Tire & Rubber by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock valued at $6,074,000 after purchasing an additional 15,064 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Goodyear Tire & Rubber by 5.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 46,440 shares of the company’s stock valued at $482,000 after purchasing an additional 2,597 shares in the last quarter. Finally, New York State Teachers Retirement System lifted its position in shares of Goodyear Tire & Rubber by 9.7% during the 2nd quarter. New York State Teachers Retirement System now owns 324,125 shares of the company’s stock worth $3,361,000 after purchasing an additional 28,750 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $8.86 on Wednesday. The firm’s fifty day simple moving average is $9.22 and its 200-day simple moving average is $8.45. The Goodyear Tire & Rubber Company has a 12 month low of $6.51 and a 12 month high of $12.03. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -1.48, a PEG ratio of 0.42 and a beta of 1.18. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. The business had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

GT has been the subject of a number of recent analyst reports. Citigroup lifted their price target on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, February 12th. Morgan Stanley boosted their target price on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research note on Friday, November 28th. Zacks Research lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Hold” and an average price target of $10.83.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.