Assenagon Asset Management S.A. Has $2.08 Million Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Assenagon Asset Management S.A. lifted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 30.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,854 shares of the company’s stock after purchasing an additional 54,806 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of Goodyear Tire & Rubber worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of GT. Family Firm Inc. bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $26,000. Mather Group LLC. lifted its position in shares of Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after buying an additional 2,580 shares during the period. Sound Income Strategies LLC lifted its position in shares of Goodyear Tire & Rubber by 2,122.5% during the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after buying an additional 3,778 shares during the period. Beach Investment Counsel Inc. PA bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $40,000. Finally, MUFG Securities EMEA plc bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $57,000. Institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Stock Down 1.8 %

NASDAQ GT opened at $8.01 on Friday. The stock has a fifty day moving average of $8.34 and a 200-day moving average of $10.30. The stock has a market capitalization of $2.28 billion, a P/E ratio of -3.54 and a beta of 1.69. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.09 by $0.10. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm earned ($0.34) EPS. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.