The Goodyear Tire & Rubber Company $GT Shares Acquired by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC grew its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 74,711 shares of the company’s stock after buying an additional 1,393 shares during the period. SummerHaven Investment Management LLC’s holdings in Goodyear Tire & Rubber were worth $775,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Goodyear Tire & Rubber by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 642,347 shares of the company’s stock worth $5,781,000 after acquiring an additional 93,158 shares in the last quarter. GTS Securities LLC boosted its holdings in Goodyear Tire & Rubber by 107.4% in the fourth quarter. GTS Securities LLC now owns 10,178 shares of the company’s stock worth $92,000 after acquiring an additional 146,848 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $1,423,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $5,269,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Goodyear Tire & Rubber by 2,186.8% during the first quarter. GAMMA Investing LLC now owns 25,955 shares of the company’s stock worth $240,000 after purchasing an additional 24,820 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GT shares. BNP Paribas downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. BNP Paribas Exane reaffirmed a “neutral” rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a report on Monday, August 11th. HSBC reaffirmed a “hold” rating and set a $9.50 target price (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday, August 20th. Finally, Hsbc Global Res downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.93.

Goodyear Tire & Rubber Stock Down 0.3%

Shares of GT stock opened at $7.86 on Monday. The stock has a 50 day moving average of $9.02 and a 200 day moving average of $9.95. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The stock has a market cap of $2.25 billion, a P/E ratio of 5.54, a P/E/G ratio of 0.96 and a beta of 1.37. The Goodyear Tire & Rubber Company has a twelve month low of $7.80 and a twelve month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.31). The company had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The firm’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 earnings per share. As a group, sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS 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.