Leonteq Securities AG Invests $2.95 Million in The Goodyear Tire & Rubber Company $GT

Leonteq Securities AG purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) in the fourth quarter, Holdings Channel.com reports. The firm purchased 336,668 shares of the company’s stock, valued at approximately $2,949,000.

A number of other large investors have also recently made changes to their positions in GT. Focus Partners Wealth bought a new stake in shares of Goodyear Tire & Rubber in the third quarter worth approximately $25,000. Hantz Financial Services Inc. grew its position in Goodyear Tire & Rubber by 384.8% during the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after buying an additional 4,198 shares during the period. Cloud Capital Management LLC bought a new stake in Goodyear Tire & Rubber during the third quarter valued at approximately $47,000. Newbridge Financial Services Group Inc. grew its position in Goodyear Tire & Rubber by 29.2% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after buying an additional 1,749 shares during the period. Finally, GAMMA Investing LLC grew its position in Goodyear Tire & Rubber by 80.9% during the fourth quarter. GAMMA Investing LLC now owns 8,063 shares of the company’s stock valued at $71,000 after buying an additional 3,605 shares during the period. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $5.58 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51. The Goodyear Tire & Rubber Company has a 1-year low of $5.43 and a 1-year high of $12.03. The company has a market capitalization of $1.60 billion, a P/E ratio of -0.77 and a beta of 1.17. The firm’s 50 day simple moving average is $6.65 and its two-hundred day simple moving average is $7.98.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The business had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Research analysts expect that The Goodyear Tire & Rubber Company will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

GT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. TD Cowen cut their target price on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. JPMorgan Chase & Co. restated an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, Zacks Research lowered shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $8.54.

Check Out Our Latest Analysis on Goodyear Tire & Rubber

About Goodyear Tire & Rubber

(Free Report)

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.

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

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