Candriam Luxembourg S.C.A. Buys New Position in Goodyear Tire & Rubber Co (NASDAQ:GT)

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Candriam Luxembourg S.C.A. bought a new stake in Goodyear Tire & Rubber Co (NASDAQ:GT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 13,031 shares of the company’s stock, valued at approximately $117,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 87.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 91,341 shares of the company’s stock valued at $1,658,000 after purchasing an additional 42,492 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Goodyear Tire & Rubber by 29.6% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 28,578 shares of the company’s stock valued at $444,000 after purchasing an additional 6,521 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Goodyear Tire & Rubber by 3.5% during the 4th quarter. Alliancebernstein L.P. now owns 405,721 shares of the company’s stock valued at $6,311,000 after purchasing an additional 13,620 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Goodyear Tire & Rubber by 10.1% during the 4th quarter. Geode Capital Management LLC now owns 2,955,687 shares of the company’s stock valued at $45,975,000 after purchasing an additional 271,078 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $6,199,000. Hedge funds and other institutional investors own 79.54% of the company’s stock.

Several equities analysts have recently weighed in on the stock. ValuEngine upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. BidaskClub cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Thursday, June 18th. Nomura reiterated a “buy” rating and issued a $11.00 target price on shares of Goodyear Tire & Rubber in a report on Wednesday, May 6th. Cfra decreased their target price on shares of Goodyear Tire & Rubber from $16.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Finally, Deutsche Bank decreased their target price on shares of Goodyear Tire & Rubber from $7.00 to $5.00 and set a “hold” rating for the company in a report on Tuesday, May 5th. Eight analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $11.35.

NASDAQ GT opened at $9.01 on Friday. The company has a 50 day simple moving average of $9.13 and a 200-day simple moving average of $9.09. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.17 and a quick ratio of 0.62. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -2.42 and a beta of 2.05. Goodyear Tire & Rubber Co has a 52-week low of $4.09 and a 52-week high of $17.20.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Friday, July 31st. The company reported ($1.87) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.11) by $0.24. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.90 billion. Goodyear Tire & Rubber had a negative net margin of 6.12% and a positive return on equity of 1.48%. The firm’s revenue was down 41.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, analysts predict that Goodyear Tire & Rubber Co will post -2.44 EPS for the current year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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