Quantbot Technologies LP Takes Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Quantbot Technologies LP acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 58,649 shares of the company’s stock, valued at approximately $805,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter valued at $125,650,000. Assenagon Asset Management S.A. raised its position in Goodyear Tire & Rubber by 880.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock worth $8,178,000 after purchasing an additional 512,875 shares during the period. Profit Investment Management LLC purchased a new position in Goodyear Tire & Rubber in the 1st quarter worth $2,438,000. Boston Partners purchased a new position in Goodyear Tire & Rubber in the 4th quarter worth $1,042,000. Finally, CWM LLC raised its position in Goodyear Tire & Rubber by 253.2% in the 1st quarter. CWM LLC now owns 11,460 shares of the company’s stock worth $157,000 after purchasing an additional 8,215 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $11.35 on Monday. The Goodyear Tire & Rubber Company has a 1 year low of $10.60 and a 1 year high of $16.50. The company’s 50-day moving average is $11.89 and its 200 day moving average is $12.57. The company has a current ratio of 1.15, a quick ratio of 0.60 and a debt-to-equity ratio of 1.56.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the business earned ($0.29) EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.21 EPS for the current fiscal year.

Goodyear Tire & Rubber Company 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.