Legal & General Group Plc Takes $3.05 Million Position in The Goodyear Tire & Rubber Company $GT

Legal & General Group Plc bought a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 462,190 shares of the company’s stock, valued at approximately $3,050,000.

A number of other institutional investors also recently bought and sold shares of GT. Focus Partners Wealth bought a new position in Goodyear Tire & Rubber during the third quarter valued at $25,000. Los Angeles Capital Management LLC bought a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $26,000. EFG International AG bought a new position in Goodyear Tire & Rubber during the 4th quarter valued at about $26,000. Allworth Financial LP purchased a new stake in Goodyear Tire & Rubber in the 2nd quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC raised its position in Goodyear Tire & Rubber by 656.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after purchasing an additional 5,248 shares during the period. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Up 2.3%

Shares of Goodyear Tire & Rubber stock opened at $6.25 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.09 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a 1 year low of $5.43 and a 1 year high of $10.62. The firm’s 50-day moving average is $6.59 and its two-hundred day moving average is $6.71. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -0.71 and a beta of 1.10.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, beating 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 business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same quarter in the previous year, the business posted ($0.17) EPS. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, research analysts expect that The Goodyear Tire & Rubber Company will post -0.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Citigroup dropped their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their target price on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.26.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.