Cipher Capital LP Has $145,000 Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Mar 17, 2023

Cipher Capital LP lessened its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Get Rating) by 62.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,294 shares of the company's stock after selling 23,528 shares during the quarter. Cipher Capital LP's holdings in Goodyear Tire & Rubber were worth $145,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GT. Ancora Advisors LLC boosted its stake in Goodyear Tire & Rubber by 142.9% in the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company's stock worth $30,000 after purchasing an additional 1,000 shares during the period. Byrne Asset Management LLC boosted its position in shares of Goodyear Tire & Rubber by 133.3% during the fourth quarter. Byrne Asset Management LLC now owns 4,550 shares of the company's stock worth $46,000 after buying an additional 2,600 shares during the period. CoreCap Advisors LLC bought a new position in shares of Goodyear Tire & Rubber during the fourth quarter worth about $49,000. EMC Capital Management raised its position in Goodyear Tire & Rubber by 16.5% in the 4th quarter. EMC Capital Management now owns 9,577 shares of the company's stock valued at $97,000 after buying an additional 1,359 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $100,000. Institutional investors own 79.34% of the company's stock.

GT has been the subject of several research reports. BNP Paribas raised shares of Goodyear Tire & Rubber from an "underperform" rating to a "neutral" rating and set a $13.00 price target for the company in a research note on Monday, May 15th. Nomura lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a research note on Wednesday, May 17th. StockNews.com initiated coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, May 18th. They set a "hold" rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Goodyear Tire & Rubber from $10.00 to $13.00 in a report on Wednesday, May 24th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of "Hold" and a consensus target price of $14.00.

Shares of GT stock opened at $13.44 on Monday. The Goodyear Tire & Rubber Company has a 52-week low of $9.66 and a 52-week high of $15.69. The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 672.34 and a beta of 1.79. The firm's 50-day moving average is $11.92 and its 200-day moving average is $11.31. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.67 and a current ratio of 1.32.

Goodyear Tire & Rubber (NASDAQ:GT - Get Rating) last released its quarterly earnings data on Friday, May 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.07). Goodyear Tire & Rubber had a net margin of 0.02% and a return on equity of 3.44%. The business had revenue of $4.94 billion during the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the company earned $0.37 EPS. Goodyear Tire & Rubber's quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 0.84 EPS for the current year.

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.

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