The Goodyear Tire & Rubber Company $GT Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 48.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,285,756 shares of the company’s stock after buying an additional 416,825 shares during the quarter. BNP Paribas Financial Markets’ holdings in Goodyear Tire & Rubber were worth $11,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GT. Norges Bank acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $2,795,000. Northwestern Mutual Wealth Management Co. grew its stake in Goodyear Tire & Rubber by 10.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 18,869 shares of the company’s stock worth $165,000 after buying an additional 1,819 shares during the period. Foundations Investment Advisors LLC grew its stake in Goodyear Tire & Rubber by 41.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 18,732 shares of the company’s stock worth $164,000 after buying an additional 5,533 shares during the period. Geode Capital Management LLC increased its position in shares of Goodyear Tire & Rubber by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 7,245,230 shares of the company’s stock worth $63,479,000 after acquiring an additional 449,911 shares in the last quarter. Finally, Integrity Alliance LLC. acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $255,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Cowen cut their price objective on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Zacks Research lowered Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Finally, Citigroup decreased their price target on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $8.54.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock opened at $5.71 on Monday. The business has a 50-day moving average of $6.47 and a 200-day moving average of $7.84. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The company has a market capitalization of $1.64 billion, a PE ratio of -0.79 and a beta of 1.12. The Goodyear Tire & Rubber Company has a 1-year low of $5.43 and a 1-year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. The business had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post -0.32 EPS for the current fiscal year.

Goodyear Tire & Rubber Company 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.