Capula Management Ltd Invests $330,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Capula Management Ltd acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 36,640 shares of the company's stock, valued at approximately $330,000.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth about $39,626,000. Truist Financial Corp raised its position in shares of Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after acquiring an additional 1,115 shares during the period. Barclays PLC boosted its stake in Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock worth $8,635,000 after acquiring an additional 598,330 shares during the last quarter. Geode Capital Management LLC grew its holdings in Goodyear Tire & Rubber by 1.2% during the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after purchasing an additional 86,227 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Goodyear Tire & Rubber by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock valued at $33,648,000 after purchasing an additional 205,629 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GT. Argus raised 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. StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price for the company in a research note on Monday, March 31st. Finally, TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price target on the stock. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Up 6.7 %

Shares of GT traded up $0.61 during mid-day trading on Friday, hitting $9.67. 8,099,460 shares of the company's stock were exchanged, compared to its average volume of 5,011,544. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.26. The company has a market cap of $2.76 billion, a PE ratio of 40.29 and a beta of 1.49. The company has a 50-day simple moving average of $9.23 and a 200 day simple moving average of $9.15.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. On average, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.