Legal & General Group Plc Buys New Shares in The Goodyear Tire & Rubber Company $GT

Legal & General Group Plc purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 462,190 shares of the company’s stock, valued at approximately $3,050,000. Legal & General Group Plc owned 0.16% of Goodyear Tire & Rubber as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. EFG International AG bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $26,000. Los Angeles Capital Management LLC bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $26,000. Focus Partners Wealth purchased a new stake in shares of Goodyear Tire & Rubber in the third quarter worth $25,000. Allworth Financial LP purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $33,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Goodyear Tire & Rubber by 656.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock valued at $40,000 after purchasing an additional 5,248 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $6.25 on Friday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -0.71 and a beta of 1.10. The Goodyear Tire & Rubber Company has a 1 year low of $5.43 and a 1 year high of $10.62. The stock’s 50 day simple moving average is $6.59 and its two-hundred day simple moving average is $6.71. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.09 and a quick ratio of 0.55.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the company earned ($0.17) EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post -0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Friday, August 7th. Finally, Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus price target of $8.26.

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.