BNP Paribas Financial Markets Acquires 467,107 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

BNP Paribas Financial Markets increased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 221.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 678,452 shares of the company’s stock after acquiring an additional 467,107 shares during the period. BNP Paribas Financial Markets’ holdings in Goodyear Tire & Rubber were worth $6,004,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GT. Family Firm Inc. bought a new position in shares of Goodyear Tire & Rubber in the second quarter worth approximately $26,000. Mather Group LLC. lifted its position in Goodyear Tire & Rubber by 4,526.3% in the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after acquiring an additional 2,580 shares in the last quarter. Sound Income Strategies LLC boosted its stake in Goodyear Tire & Rubber by 2,122.5% during the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after purchasing an additional 3,778 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter worth $57,000. Finally, ORG Partners LLC purchased a new position in shares of Goodyear Tire & Rubber in the second quarter worth $72,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $10.74 on Wednesday. The stock has a 50-day moving average price of $8.95 and a 200 day moving average price of $9.84. The stock has a market capitalization of $3.06 billion, a P/E ratio of -10.33 and a beta of 1.77. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. Goodyear Tire & Rubber’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. Equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports 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. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.

About Goodyear Tire & Rubber

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.