The Goodyear Tire & Rubber Company $GT Shares Acquired by CenterBook Partners LP

CenterBook Partners LP boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 166.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,040,792 shares of the company’s stock after acquiring an additional 1,273,883 shares during the quarter. Goodyear Tire & Rubber accounts for about 0.8% of CenterBook Partners LP’s holdings, making the stock its 25th biggest holding. CenterBook Partners LP owned 0.71% of Goodyear Tire & Rubber worth $15,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GT. Solstein Capital LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd increased its holdings in Goodyear Tire & Rubber by 3,894.3% in the second quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after buying an additional 2,726 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Goodyear Tire & Rubber in the second quarter valued at $31,000. Hantz Financial Services Inc. lifted its holdings in Goodyear Tire & Rubber by 384.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after buying an additional 4,198 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in Goodyear Tire & Rubber during the 3rd quarter worth about $47,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.86 on Wednesday. The Goodyear Tire & Rubber Company has a one year low of $6.51 and a one year high of $12.03. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -1.48, a PEG ratio of 0.42 and a beta of 1.18. The company has a 50-day simple moving average of $9.22 and a 200-day simple moving average of $8.45. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.54 and a current ratio of 1.06.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). The company had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 EPS. On average, analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Citigroup raised their target price on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Morgan Stanley upped their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a report on Friday, November 28th. Finally, Zacks Research downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $10.83.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.