Vontobel Holding Ltd. Invests $649,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Vontobel Holding Ltd. purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 73,318 shares of the company’s stock, valued at approximately $649,000.

Other large investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI increased its holdings in shares of Goodyear Tire & Rubber by 2,944.7% in the 1st quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock valued at $21,600,000 after purchasing an additional 1,611,966 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Goodyear Tire & Rubber by 91.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock worth $28,203,000 after acquiring an additional 1,211,519 shares in the last quarter. American Century Companies Inc. increased its stake in Goodyear Tire & Rubber by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after purchasing an additional 1,013,550 shares in the last quarter. Vanguard Group Inc. raised its holdings in Goodyear Tire & Rubber by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock worth $410,082,000 after purchasing an additional 765,529 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Goodyear Tire & Rubber during the second quarter worth $8,492,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GT. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.23.

Goodyear Tire & Rubber Stock Down 5.0 %

GT opened at $8.25 on Tuesday. The firm has a market cap of $2.35 billion, a P/E ratio of -3.68 and a beta of 1.69. The business’s fifty day simple moving average is $8.36 and its 200 day simple moving average is $10.54. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. As a group, equities research analysts anticipate 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.