Chesapeake Capital Corp IL Has $277,000 Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Chesapeake Capital Corp IL decreased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 25.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 20,197 shares of the company’s stock after selling 6,877 shares during the period. Chesapeake Capital Corp IL’s holdings in Goodyear Tire & Rubber were worth $277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Goodyear Tire & Rubber by 880.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock valued at $8,178,000 after purchasing an additional 512,875 shares in the last quarter. Profit Investment Management LLC acquired a new stake in shares of Goodyear Tire & Rubber in the first quarter valued at about $2,438,000. Boston Partners bought a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $1,042,000. CWM LLC boosted its position in Goodyear Tire & Rubber by 253.2% during the first quarter. CWM LLC now owns 11,460 shares of the company’s stock valued at $157,000 after purchasing an additional 8,215 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Goodyear Tire & Rubber by 86.8% in the first quarter. BNP Paribas Financial Markets now owns 252,132 shares of the company’s stock valued at $3,462,000 after purchasing an additional 117,163 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

GT has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price objective on the stock. HSBC dropped 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. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Stock Performance

Shares of GT traded down $0.21 during mid-day trading on Friday, reaching $12.10. The company’s stock had a trading volume of 3,146,133 shares, compared to its average volume of 2,943,586. The company has a current ratio of 1.15, a quick ratio of 0.60 and a debt-to-equity ratio of 1.56. The stock has a market cap of $3.44 billion, a P/E ratio of -5.35 and a beta of 1.74. The Goodyear Tire & Rubber Company has a 1-year low of $10.60 and a 1-year high of $16.50. The business has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $12.50.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm posted ($0.29) EPS. The company’s quarterly revenue was down 8.9% on a year-over-year basis. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.21 earnings per share for the current fiscal year.

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.