Chelsea Counsel Co. Acquires New Stake in The Goodyear Tire & Rubber Company $GT

Chelsea Counsel Co. purchased a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 118,160 shares of the company’s stock, valued at approximately $1,225,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after buying an additional 1,674 shares in the last quarter. UMB Bank n.a. grew its stake in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company’s stock valued at $29,000 after buying an additional 1,748 shares during the last quarter. Cloud Capital Management LLC acquired a new position in Goodyear Tire & Rubber in the 1st quarter valued at about $33,000. Farther Finance Advisors LLC grew its stake in Goodyear Tire & Rubber by 1,799.1% in the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock valued at $37,000 after buying an additional 3,868 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Goodyear Tire & Rubber by 125.6% during the 2nd quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock worth $47,000 after purchasing an additional 2,510 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $7.48 on Wednesday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 5.27, a P/E/G ratio of 0.91 and a beta of 1.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The Goodyear Tire & Rubber Company has a 52 week low of $7.41 and a 52 week high of $12.03. The firm’s 50-day simple moving average is $8.88 and its two-hundred day simple moving average is $9.92.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Hsbc Global Res lowered shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Citigroup started coverage on shares of Goodyear Tire & Rubber in a research note on Monday, September 8th. They issued a “neutral” rating and a $10.00 price objective for the company. HSBC reaffirmed a “hold” rating and set a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Finally, BNP Paribas Exane reiterated a “neutral” rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.93.

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.