Vident Advisory LLC Purchases New Shares in The Goodyear Tire & Rubber Company $GT

Vident Advisory LLC purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,064 shares of the company’s stock, valued at approximately $93,000.

A number of other large investors also recently bought and sold shares of the company. Trexquant Investment LP purchased a new position in Goodyear Tire & Rubber during the 1st quarter worth $4,163,000. Landscape Capital Management L.L.C. raised its position in Goodyear Tire & Rubber by 330.1% during the 1st quarter. Landscape Capital Management L.L.C. now owns 304,715 shares of the company’s stock worth $2,816,000 after buying an additional 233,865 shares during the last quarter. DG Capital Management LLC purchased a new position in Goodyear Tire & Rubber during the 1st quarter worth $4,930,000. Northwestern Mutual Wealth Management Co. raised its position in Goodyear Tire & Rubber by 32.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 12,205 shares of the company’s stock worth $113,000 after buying an additional 2,956 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Goodyear Tire & Rubber by 73.1% during the 1st quarter. Hsbc Holdings PLC now owns 151,078 shares of the company’s stock worth $1,394,000 after buying an additional 63,800 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BNP Paribas downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 8th. HSBC restated a “hold” rating and set a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. BNP Paribas Exane reaffirmed a “neutral” rating and set a $9.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, Citigroup assumed coverage on shares of Goodyear Tire & Rubber in a research note on Monday. They set a “neutral” rating and a $10.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.93.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $8.56 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $9.69 and a two-hundred day moving average price of $10.02. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.03. The company has a market capitalization of $2.45 billion, a P/E ratio of 6.03, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.31). Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter last year, the business posted $0.19 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts expect 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.