Edgestream Partners L.P. Acquires 81,278 Shares of The Goodyear Tire & Rubber Company $GT

Edgestream Partners L.P. increased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 60.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 216,609 shares of the company’s stock after acquiring an additional 81,278 shares during the quarter. Edgestream Partners L.P. owned about 0.08% of Goodyear Tire & Rubber worth $2,246,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Solstein Capital LLC acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $26,000. Ameritas Advisory Services LLC bought a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its position in Goodyear Tire & Rubber by 3,894.3% during the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock worth $29,000 after buying an additional 2,726 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Goodyear Tire & Rubber during the second quarter worth approximately $31,000. Finally, Signaturefd LLC increased its stake in Goodyear Tire & Rubber by 125.6% during the 2nd quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock worth $47,000 after acquiring an additional 2,510 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GT. Citigroup cut their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Hsbc Global Res cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. BNP Paribas lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft dropped 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 report on Monday, August 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.85.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $8.47 on Friday. The company’s 50 day moving average price is $7.55 and its two-hundred day moving average price is $9.13. The firm has a market capitalization of $2.42 billion, a P/E ratio of -1.39, a P/E/G ratio of 1.79 and a beta of 1.18. The Goodyear Tire & Rubber Company has a fifty-two week low of $6.51 and a fifty-two week high of $12.03. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the company earned $0.37 EPS. Goodyear Tire & Rubber’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share 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.