Covestor Ltd Has $70,000 Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Covestor Ltd lifted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 33.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,108 shares of the company’s stock after purchasing an additional 1,284 shares during the quarter. Covestor Ltd’s holdings in Goodyear Tire & Rubber were worth $70,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of GT. Assenagon Asset Management S.A. boosted its holdings in shares of Goodyear Tire & Rubber by 880.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock worth $8,178,000 after buying an additional 512,875 shares during the period. Profit Investment Management LLC bought a new stake in shares of Goodyear Tire & Rubber during the 1st quarter worth $2,438,000. Boston Partners bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth $1,042,000. CWM LLC boosted its holdings in shares of Goodyear Tire & Rubber by 253.2% during the 1st quarter. CWM LLC now owns 11,460 shares of the company’s stock worth $157,000 after buying an additional 8,215 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Goodyear Tire & Rubber by 86.8% during the 1st quarter. BNP Paribas Financial Markets now owns 252,132 shares of the company’s stock worth $3,462,000 after buying an additional 117,163 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock opened at $11.99 on Thursday. The company’s 50 day simple moving average is $11.76 and its 200 day simple moving average is $12.47. The Goodyear Tire & Rubber Company has a fifty-two week low of $10.60 and a fifty-two week high of $16.50. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.15 and a quick ratio of 0.60.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned ($0.29) EPS. Goodyear Tire & Rubber’s quarterly revenue was down 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GT shares. HSBC reduced their price target on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a report on Wednesday, May 8th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Finally, Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a report on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.