Atlantic Investment Management Inc. Invests $9.49 Million in The Goodyear Tire & Rubber Company $GT

Atlantic Investment Management Inc. purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 915,000 shares of the company’s stock, valued at approximately $9,489,000. Goodyear Tire & Rubber comprises approximately 4.8% of Atlantic Investment Management Inc.’s investment portfolio, making the stock its 8th largest holding. Atlantic Investment Management Inc. owned about 0.32% of Goodyear Tire & Rubber as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Cetera Investment Advisers lifted its holdings in Goodyear Tire & Rubber by 14.3% during the 1st quarter. Cetera Investment Advisers now owns 78,942 shares of the company’s stock worth $729,000 after buying an additional 9,886 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Goodyear Tire & Rubber by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company’s stock valued at $35,122,000 after acquiring an additional 62,499 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Goodyear Tire & Rubber during the 1st quarter valued at approximately $501,000. Entropy Technologies LP bought a new position in Goodyear Tire & Rubber during the first quarter worth $338,000. Finally, Nuveen LLC acquired a new position in Goodyear Tire & Rubber in the first quarter worth $20,422,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GT has been the subject of several recent research reports. Hsbc Global Res lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Morgan Stanley raised their price target on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. JPMorgan Chase & Co. lowered their price objective on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday. Finally, HSBC reissued a “hold” rating and issued a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.85.

Goodyear Tire & Rubber Stock Down 0.2%

Shares of Goodyear Tire & Rubber stock opened at $8.80 on Friday. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71. The Goodyear Tire & Rubber Company has a 1-year low of $6.51 and a 1-year high of $12.03. The business’s fifty day moving average price is $7.68 and its two-hundred day moving average price is $9.03. The company has a market capitalization of $2.52 billion, a P/E ratio of -1.45, a PEG ratio of 1.80 and a beta of 1.18.

Goodyear Tire & Rubber (NASDAQ:GT) last issued 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. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.67 billion. Goodyear Tire & Rubber had a positive return on equity of 2.97% and a negative net margin of 9.56%.The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share. As a group, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber 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.