Brevan Howard Capital Management LP Raises Stock Position in The Goodyear Tire & Rubber Company $GT

Brevan Howard Capital Management LP boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 313.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 438,206 shares of the company’s stock after acquiring an additional 332,294 shares during the period. Brevan Howard Capital Management LP’s holdings in Goodyear Tire & Rubber were worth $3,278,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hantz Financial Services Inc. grew its position in shares of Goodyear Tire & Rubber by 384.8% in the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after purchasing an additional 4,198 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth about $47,000. Bayforest Capital Ltd purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $65,000. Allworth Financial LP boosted its holdings in Goodyear Tire & Rubber by 67.9% in the 2nd quarter. Allworth Financial LP now owns 7,433 shares of the company’s stock worth $77,000 after buying an additional 3,007 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in Goodyear Tire & Rubber in the 3rd quarter worth about $78,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GT shares. Morgan Stanley increased their target price on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a report on Friday, November 28th. Citigroup boosted their price target on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Zacks Research downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.30.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $6.74 on Tuesday. The Goodyear Tire & Rubber Company has a 52 week low of $6.51 and a 52 week high of $12.03. The stock’s fifty day moving average is $8.88 and its two-hundred day moving average is $8.34. The company has a market capitalization of $1.93 billion, a P/E ratio of -1.13, a P/E/G ratio of 0.29 and a beta of 1.12. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.57.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber Company 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.