Hsbc Holdings PLC boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 196.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 335,967 shares of the company’s stock after purchasing an additional 222,767 shares during the quarter. Hsbc Holdings PLC’s holdings in Goodyear Tire & Rubber were worth $3,768,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Family Firm Inc. purchased a new position in Goodyear Tire & Rubber during the 2nd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $28,000. Mather Group LLC. grew its stake in shares of Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after purchasing an additional 2,580 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $33,000. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $40,000. 84.19% of the stock is owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Price Performance
Goodyear Tire & Rubber stock opened at $8.22 on Wednesday. The company’s fifty day moving average price is $9.12 and its 200 day moving average price is $11.12. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $15.24. The stock has a market capitalization of $2.34 billion, a P/E ratio of -3.64 and a beta of 1.70. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Morgan Stanley assumed coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price objective on the stock. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Finally, StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.23.
View Our Latest Stock Report on Goodyear Tire & Rubber
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.
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