Federated Hermes Inc. increased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,794 shares of the company’s stock after acquiring an additional 39,520 shares during the period. Federated Hermes Inc. owned approximately 0.08% of Goodyear Tire & Rubber worth $2,517,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber in the fourth quarter worth about $28,000. Family Firm Inc. bought a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter worth approximately $26,000. Jones Financial Companies Lllp acquired a new stake in Goodyear Tire & Rubber during the fourth quarter valued at approximately $33,000. Mather Group LLC. boosted its holdings in Goodyear Tire & Rubber by 4,526.3% during the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after buying an additional 2,580 shares in the last quarter. Finally, Beach Investment Counsel Inc. PA acquired a new position in Goodyear Tire & Rubber in the second quarter worth approximately $40,000. Institutional investors and hedge funds own 84.19% of the company’s stock.
Goodyear Tire & Rubber Stock Performance
Shares of Goodyear Tire & Rubber stock opened at $8.37 on Friday. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $15.24. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The stock has a market cap of $2.38 billion, a PE ratio of -3.70 and a beta of 1.70. The business has a fifty day simple moving average of $9.39 and a 200-day simple moving average of $11.23.
Analyst Upgrades and Downgrades
GT has been the subject of a number of recent research reports. Morgan Stanley assumed coverage on Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price objective for the company. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Finally, StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and an average target price of $17.23.
Read Our Latest Research Report on GT
About Goodyear Tire & Rubber
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.
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