Natixis Advisors LLC Purchases Shares of 33,769 The Goodyear Tire & Rubber Company (NASDAQ:GT)

Natixis Advisors LLC purchased a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) in the first quarter, HoldingsChannel reports. The institutional investor purchased 33,769 shares of the company’s stock, valued at approximately $312,000.

Other large investors have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new position in Goodyear Tire & Rubber during the first quarter worth about $407,000. AGP Franklin LLC increased its position in Goodyear Tire & Rubber by 4.2% during the first quarter. AGP Franklin LLC now owns 102,440 shares of the company’s stock worth $999,000 after acquiring an additional 4,096 shares during the period. Cetera Investment Advisers increased its position in Goodyear Tire & Rubber by 14.3% during the first quarter. Cetera Investment Advisers now owns 78,942 shares of the company’s stock worth $729,000 after acquiring an additional 9,886 shares during the period. John G Ullman & Associates Inc. increased its position in Goodyear Tire & Rubber by 9.1% during the first quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company’s stock worth $166,000 after acquiring an additional 1,500 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in Goodyear Tire & Rubber by 0.6% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 589,242 shares of the company’s stock worth $5,445,000 after acquiring an additional 3,803 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on GT shares. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. BNP Paribas lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Monday. Finally, BNP Paribas Exane reissued a “neutral” rating and issued a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.80.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $8.25 on Wednesday. The firm has a market capitalization of $2.36 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.26 and a beta of 1.37. The firm has a fifty day simple moving average of $10.65 and a two-hundred day simple moving average of $10.11. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.31). The firm had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%. Goodyear Tire & Rubber’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 earnings per share. Analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Goodyear Tire & Rubber Profile

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.