Brevan Howard Capital Management LP Takes $606,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Brevan Howard Capital Management LP acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 67,345 shares of the company’s stock, valued at approximately $606,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GT. Allworth Financial LP lifted its stake in shares of Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber during the third quarter valued at approximately $45,000. Signaturefd LLC raised its position in Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after acquiring an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at $54,000. Finally, Transce3nd LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $61,000. Institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 target price on the stock. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, March 31st. Finally, Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Goodyear Tire & Rubber Trading Down 0.7 %

Shares of GT opened at $10.86 on Friday. The firm has a market cap of $3.10 billion, a P/E ratio of 45.25 and a beta of 1.42. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.26. The company has a 50 day simple moving average of $9.76 and a two-hundred day simple moving average of $9.43.

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

Goodyear Tire & Rubber Company Profile

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.