Leonteq Securities AG Purchases 78,512 Shares of The Goodyear Tire & Rubber Company $GT

Leonteq Securities AG increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 23.3% in the first quarter, Holdings Channel.com reports. The fund owned 415,180 shares of the company’s stock after purchasing an additional 78,512 shares during the period. Leonteq Securities AG’s holdings in Goodyear Tire & Rubber were worth $2,753,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GT. Invenomic Capital Management LP purchased a new position in shares of Goodyear Tire & Rubber in the third quarter worth $13,753,000. Bastion Asset Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 72.9% during the fourth quarter. Bastion Asset Management Inc. now owns 963,938 shares of the company’s stock valued at $8,076,000 after buying an additional 406,410 shares during the last quarter. Brevan Howard Capital Management LP increased its holdings in Goodyear Tire & Rubber by 313.7% in the 3rd quarter. Brevan Howard Capital Management LP now owns 438,206 shares of the company’s stock worth $3,278,000 after buying an additional 332,294 shares in the last quarter. SG Americas Securities LLC raised its position in Goodyear Tire & Rubber by 113.5% in the 1st quarter. SG Americas Securities LLC now owns 1,447,677 shares of the company’s stock worth $9,598,000 after buying an additional 769,710 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Goodyear Tire & Rubber by 4.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,507,813 shares of the company’s stock valued at $39,488,000 after acquiring an additional 189,493 shares during the period. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

GT opened at $6.59 on Friday. The company’s 50 day moving average is $6.27 and its 200 day moving average is $7.56. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -0.91 and a beta of 1.12. The Goodyear Tire & Rubber Company has a 12-month low of $5.43 and a 12-month high of $11.79.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the prior year, the company earned ($0.04) earnings per share. The firm’s revenue was down 8.7% on a year-over-year basis. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post -0.27 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GT. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Citigroup cut their target price on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber has a consensus rating of “Reduce” and an average target price of $8.54.

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.