Healthcare of Ontario Pension Plan Trust Fund Purchases 350,500 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Healthcare of Ontario Pension Plan Trust Fund increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 102.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 691,152 shares of the company’s stock after acquiring an additional 350,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.24% of Goodyear Tire & Rubber worth $7,845,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $28,000. Family Firm Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter worth approximately $26,000. Jones Financial Companies Lllp acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth approximately $33,000. Mather Group LLC. increased its holdings in shares of Goodyear Tire & Rubber by 4,526.3% during the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after buying an additional 2,580 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter worth approximately $40,000. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GT shares. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Finally, Morgan Stanley initiated coverage on shares of Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Stock Up 4.7 %

Shares of GT stock opened at $8.53 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $15.24. The firm’s fifty day moving average price is $8.62 and its two-hundred day moving average price is $10.94. The firm has a market capitalization of $2.43 billion, a P/E ratio of -3.77 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.10. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) EPS. On average, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Goodyear Tire & Rubber 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.