Natixis Advisors LLC Purchases Shares of 33,769 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Natixis Advisors LLC purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,769 shares of the company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GT. Maple Rock Capital Partners Inc. purchased a new stake in Goodyear Tire & Rubber in the 4th quarter valued at approximately $16,875,000. Atlantic Investment Management Inc. purchased a new stake in Goodyear Tire & Rubber in the 4th quarter valued at approximately $11,803,000. Greenvale Capital LLP purchased a new stake in Goodyear Tire & Rubber in the 4th quarter valued at approximately $6,750,000. Marshall Wace LLP boosted its holdings in Goodyear Tire & Rubber by 883.9% in the 4th quarter. Marshall Wace LLP now owns 716,414 shares of the company’s stock valued at $6,448,000 after purchasing an additional 643,597 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $5,331,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on GT shares. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $9.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. BNP Paribas cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wall Street Zen downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and an average price target of $12.80.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $8.25 on Wednesday. The firm has a market cap of $2.36 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.26 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $12.03. The company has a quick ratio of 0.63, a current ratio of 1.15 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average price is $10.65 and its two-hundred day moving average price is $10.11.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.31). The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%. Goodyear Tire & Rubber’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal 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.