Arrowstreet Capital Limited Partnership Buys Shares of 190,859 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Arrowstreet Capital Limited Partnership purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 190,859 shares of the company’s stock, valued at approximately $1,718,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GT. Allworth Financial LP raised its holdings in Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $45,000. Signaturefd LLC raised its stake in Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock worth $47,000 after buying an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Goodyear Tire & Rubber during the fourth quarter worth about $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Goodyear Tire & Rubber in the fourth quarter valued at about $79,000. 84.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Monday, March 31st. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Finally, TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.78.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $9.06 on Friday. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.26. The firm’s 50 day moving average is $9.21 and its 200-day moving average is $9.14. The company has a market capitalization of $2.58 billion, a PE ratio of 37.75 and a beta of 1.49. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Equities research analysts anticipate 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.