Brevan Howard Capital Management LP Raises Holdings in The Goodyear Tire & Rubber Company $GT

Brevan Howard Capital Management LP lifted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 313.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 438,206 shares of the company’s stock after purchasing an additional 332,294 shares during the quarter. Brevan Howard Capital Management LP owned about 0.15% of Goodyear Tire & Rubber worth $3,278,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its position in Goodyear Tire & Rubber by 384.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after purchasing an additional 4,198 shares during the last quarter. Cloud Capital Management LLC purchased a new position in shares of Goodyear Tire & Rubber in the third quarter worth $47,000. Bayforest Capital Ltd acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter worth $65,000. Allworth Financial LP lifted its stake in shares of Goodyear Tire & Rubber by 67.9% during the second quarter. Allworth Financial LP now owns 7,433 shares of the company’s stock worth $77,000 after buying an additional 3,007 shares during the period. Finally, Sowell Financial Services LLC purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at $78,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GT has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Morgan Stanley lifted their price target on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a research report on Friday, November 28th. Zacks Research downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Citigroup increased their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $10.30.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT opened at $6.74 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.57. The Goodyear Tire & Rubber Company has a 52 week low of $6.51 and a 52 week high of $12.03. The stock’s 50-day moving average price is $8.88 and its 200-day moving average price is $8.34. The stock has a market capitalization of $1.93 billion, a PE ratio of -1.13, a price-to-earnings-growth ratio of 0.29 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the company posted $0.39 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.