The Goodyear Tire & Rubber Company $GT Shares Purchased by Creative Planning

Creative Planning boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 20.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,783 shares of the company’s stock after acquiring an additional 16,399 shares during the quarter. Creative Planning’s holdings in Goodyear Tire & Rubber were worth $1,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GT. Nuveen LLC acquired a new position in Goodyear Tire & Rubber during the 1st quarter worth $20,422,000. CenterBook Partners LP purchased a new position in shares of Goodyear Tire & Rubber in the 1st quarter valued at about $13,413,000. American Century Companies Inc. boosted its stake in shares of Goodyear Tire & Rubber by 11.7% in the 1st quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock valued at $99,666,000 after buying an additional 1,134,058 shares during the period. AQR Capital Management LLC grew its position in shares of Goodyear Tire & Rubber by 700.4% during the first quarter. AQR Capital Management LLC now owns 1,228,982 shares of the company’s stock worth $11,233,000 after buying an additional 1,075,444 shares in the last quarter. Finally, CSM Advisors LLC purchased a new stake in shares of Goodyear Tire & Rubber during the second quarter worth approximately $7,839,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GT. Hsbc Global Res downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. HSBC reiterated a “hold” rating and set a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Citigroup cut their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. BNP Paribas downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.85.

Goodyear Tire & Rubber Trading Up 1.8%

NASDAQ GT opened at $8.60 on Monday. The firm’s fifty day moving average is $7.51 and its two-hundred day moving average is $9.16. The Goodyear Tire & Rubber Company has a one year low of $6.51 and a one year high of $12.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The firm has a market cap of $2.46 billion, a PE ratio of 6.05, a P/E/G ratio of 2.35 and a beta of 1.32.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. The business had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. Analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber Company 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.