WINTON GROUP Ltd Makes New $1.56 Million Investment in The Goodyear Tire & Rubber Company $GT

WINTON GROUP Ltd purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 236,400 shares of the company’s stock, valued at approximately $1,560,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Goodyear Tire & Rubber by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock worth $1,567,000 after acquiring an additional 7,453 shares during the period. United Services Automobile Association bought a new position in Goodyear Tire & Rubber during the 1st quarter worth approximately $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Goodyear Tire & Rubber by 2.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock worth $6,074,000 after purchasing an additional 15,064 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 6.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after purchasing an additional 1,011 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Goodyear Tire & Rubber by 23.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,060 shares of the company’s stock worth $156,000 after purchasing an additional 2,855 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $5.37 on Friday. The company has a market cap of $1.55 billion, a P/E ratio of -0.61 and a beta of 1.10. The company has a fifty day simple moving average of $6.51 and a 200 day simple moving average of $6.60. The company has a current ratio of 1.09, a quick ratio of 0.55 and a debt-to-equity ratio of 1.92. The Goodyear Tire & Rubber Company has a 12-month low of $5.35 and a 12-month high of $10.62.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative net margin of 14.37% and a negative return on equity of 2.95%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.19 billion. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post -0.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Friday, August 7th. Finally, Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus target price of $8.26.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Company develops, manufactures, markets and distributes tires and related products and services. Its portfolio includes tires for passenger cars, SUVs, trucks, buses, commercial fleets, aircraft, mining and other off-the-road applications. The company serves both original-equipment manufacturers and replacement-tire customers.

Goodyear markets products primarily under the Goodyear brand, along with other brands and private-label offerings. Its business also includes tire-related services, fleet support, vehicle maintenance and mobility solutions designed to help commercial customers manage their transportation operations.

Founded in 1898 and headquartered in Akron, Ohio, Goodyear has built a global presence through manufacturing, distribution, retail and service operations.