Goodyear Tire & Rubber Co (NASDAQ:GT) Shares Bought by Natixis

Natixis increased its holdings in Goodyear Tire & Rubber Co (NASDAQ:GT) by 304.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 503,014 shares of the company’s stock after buying an additional 378,536 shares during the quarter. Natixis’ holdings in Goodyear Tire & Rubber were worth $7,696,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. HM Payson & Co. acquired a new position in Goodyear Tire & Rubber in the 2nd quarter worth approximately $58,000. Advisory Services Network LLC grew its stake in shares of Goodyear Tire & Rubber by 46.3% during the 1st quarter. Advisory Services Network LLC now owns 5,200 shares of the company’s stock worth $94,000 after purchasing an additional 1,645 shares during the period. Employers Holdings Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $106,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Goodyear Tire & Rubber by 37.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,097 shares of the company’s stock worth $138,000 after purchasing an additional 2,492 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Goodyear Tire & Rubber by 17.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,153 shares of the company’s stock worth $155,000 after purchasing an additional 1,507 shares during the period. Institutional investors own 81.66% of the company’s stock.

A number of brokerages have recently commented on GT. BNP Paribas began coverage on shares of Goodyear Tire & Rubber in a research note on Friday, August 16th. They set an “outperform” rating and a $10.00 price objective on the stock. Citigroup dropped their price objective on shares of Goodyear Tire & Rubber from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Morgan Stanley set a $14.00 price objective on shares of Goodyear Tire & Rubber and gave the stock a “hold” rating in a research note on Wednesday, June 26th. Longbow Research raised shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $14.74 price objective on the stock in a research note on Thursday, June 6th. Finally, ValuEngine raised shares of Goodyear Tire & Rubber from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $17.52.

Shares of NASDAQ GT traded down $0.13 during midday trading on Friday, reaching $13.69. 820,626 shares of the stock were exchanged, compared to its average volume of 3,935,281. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 5.90 and a beta of 1.77. Goodyear Tire & Rubber Co has a twelve month low of $10.74 and a twelve month high of $23.95. The firm has a 50-day simple moving average of $12.63 and a two-hundred day simple moving average of $15.27. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 1.27.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, July 26th. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.06). Goodyear Tire & Rubber had a net margin of 3.02% and a return on equity of 7.66%. The business had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the business earned $0.62 EPS. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Research analysts expect that Goodyear Tire & Rubber Co will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. The company offers various lines of rubber tires for automobiles, trucks, buses, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

Further Reading: Trade War

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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