19,682 Shares in The Goodyear Tire & Rubber Company $GT Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 19,682 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers increased its position in shares of Goodyear Tire & Rubber by 14.3% during the 1st quarter. Cetera Investment Advisers now owns 78,942 shares of the company’s stock valued at $729,000 after purchasing an additional 9,886 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in Goodyear Tire & Rubber during the first quarter valued at approximately $407,000. Natixis Advisors LLC bought a new position in Goodyear Tire & Rubber in the first quarter worth approximately $312,000. PNC Financial Services Group Inc. boosted its stake in shares of Goodyear Tire & Rubber by 1,285.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 317,743 shares of the company’s stock worth $2,936,000 after acquiring an additional 294,816 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in shares of Goodyear Tire & Rubber by 9.7% during the 1st quarter. Bank of Nova Scotia now owns 89,284 shares of the company’s stock valued at $826,000 after acquiring an additional 7,897 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Up 0.2%

Shares of GT opened at $8.44 on Thursday. The business’s 50 day moving average is $7.51 and its 200 day moving average is $9.21. 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 Goodyear Tire & Rubber Company has a 12-month low of $6.51 and a 12-month high of $12.03. The company has a market capitalization of $2.42 billion, a PE ratio of 5.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.67 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company’s revenue was down 3.7% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. Research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GT has been the topic of a number of recent research reports. Zacks Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Hsbc Global Res cut Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price objective on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. HSBC reiterated a “hold” rating and set a $9.50 price objective (down from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Finally, Citigroup decreased their target price on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.36.

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.