Blueshift Asset Management LLC Invests $320,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Blueshift Asset Management LLC bought a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 35,573 shares of the company’s stock, valued at approximately $320,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp boosted its holdings in shares of Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after purchasing an additional 1,115 shares during the period. Barclays PLC boosted its holdings in Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after acquiring an additional 598,330 shares during the period. Geode Capital Management LLC boosted its holdings in Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after acquiring an additional 86,227 shares during the period. FMR LLC boosted its holdings in Goodyear Tire & Rubber by 28.1% during the 3rd quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after acquiring an additional 184,770 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Goodyear Tire & Rubber by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company’s stock valued at $33,648,000 after acquiring an additional 205,629 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GT shares. TD Cowen started coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective for the company. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Trading Down 1.8 %

Shares of NASDAQ GT opened at $9.14 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The business has a fifty day simple moving average of $9.19 and a two-hundred day simple moving average of $9.00. The firm has a market cap of $2.61 billion, a PE ratio of 38.08 and a beta of 1.71. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.