Covestor Ltd Purchases 1,284 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Covestor Ltd boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 33.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,108 shares of the company’s stock after purchasing an additional 1,284 shares during the quarter. Covestor Ltd’s holdings in Goodyear Tire & Rubber were worth $70,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at $33,000. Kapitalo Investimentos Ltda bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $72,000. Headlands Technologies LLC bought a new position in Goodyear Tire & Rubber in the first quarter valued at about $136,000. Finally, Forum Financial Management LP bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $149,000. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. HSBC decreased their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Morgan Stanley initiated coverage on Goodyear Tire & Rubber in a report on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 target price for the company. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Stock Down 1.5 %

Shares of NASDAQ GT opened at $11.99 on Thursday. The company has a quick ratio of 0.60, a current ratio of 1.15 and a debt-to-equity ratio of 1.56. The business has a fifty day simple moving average of $11.76 and a two-hundred day simple moving average of $12.47. The Goodyear Tire & Rubber Company has a twelve month low of $10.60 and a twelve month high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, May 6th. The company reported $0.10 EPS for the quarter. The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.29) EPS. Equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.21 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.