Siemens Fonds Invest GmbH Raises Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Siemens Fonds Invest GmbH boosted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 282.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,688 shares of the company’s stock after buying an additional 38,170 shares during the quarter. Siemens Fonds Invest GmbH’s holdings in Goodyear Tire & Rubber were worth $465,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Brevan Howard Capital Management LP bought a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $606,000. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $39,626,000. Capula Management Ltd purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $330,000. Truist Financial Corp raised its holdings in shares of Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after acquiring an additional 1,115 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Goodyear Tire & Rubber by 65.9% during the 4th quarter. Franklin Resources Inc. now owns 224,124 shares of the company’s stock worth $2,017,000 after acquiring an additional 88,993 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GT. Wall Street Zen cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, February 18th. BNP Paribas raised Goodyear Tire & Rubber to a “hold” rating in a report on Saturday, May 24th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $11.43 on Friday. The stock’s fifty day moving average is $10.27 and its 200 day moving average is $9.65. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.58. The firm has a market capitalization of $3.27 billion, a PE ratio of 47.63 and a beta of 1.42. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the prior year, the firm posted $0.10 EPS. Goodyear Tire & Rubber’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

About Goodyear Tire & Rubber

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.