Chesapeake Capital Corp IL Acquires New Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Chesapeake Capital Corp IL acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,074 shares of the company’s stock, valued at approximately $388,000.

Other hedge funds have also recently modified their holdings of the company. Trexquant Investment LP purchased a new position in Goodyear Tire & Rubber during the fourth quarter worth about $2,911,000. D.A. Davidson & CO. boosted its stake in Goodyear Tire & Rubber by 88.1% during the fourth quarter. D.A. Davidson & CO. now owns 43,022 shares of the company’s stock worth $616,000 after buying an additional 20,152 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in Goodyear Tire & Rubber by 379.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 125,007 shares of the company’s stock worth $1,790,000 after buying an additional 98,936 shares during the period. Norges Bank purchased a new position in Goodyear Tire & Rubber during the fourth quarter worth about $66,842,000. Finally, First Eagle Investment Management LLC boosted its stake in Goodyear Tire & Rubber by 3.6% during the fourth quarter. First Eagle Investment Management LLC now owns 962,908 shares of the company’s stock worth $13,789,000 after buying an additional 33,712 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the topic of several research reports. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. HSBC reduced their price target on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research report on Wednesday, May 8th.

Read Our Latest Stock Analysis on Goodyear Tire & Rubber

Goodyear Tire & Rubber Stock Up 1.0 %

NASDAQ:GT traded up $0.12 during mid-day trading on Monday, hitting $12.34. The stock had a trading volume of 1,277,400 shares, compared to its average volume of 3,554,035. The stock has a 50-day simple moving average of $12.66 and a two-hundred day simple moving average of $13.21. The Goodyear Tire & Rubber Company has a twelve month low of $11.26 and a twelve month high of $16.50. The company has a quick ratio of 0.60, a current ratio of 1.15 and a debt-to-equity ratio of 1.56.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last issued its earnings results on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) earnings per share. As a group, analysts expect that The Goodyear Tire & Rubber Company will post 1.27 EPS for the current fiscal year.

Goodyear Tire & Rubber Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report).

Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

Receive News & Ratings for Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.