Billionaire David Tepper is Loading Up on These 5 Stocks

3. The Goodyear Tire & Rubber Company (NASDAQ:GT)  

Appaloosa Management’s Stake Value: $92.04 million

Appaloosa Management’s 13F Portfolio: 2.19% 

Number of Hedge Fund Holders: 37

The Goodyear Tire & Rubber Company (NASDAQ:GT) is another stock that David Tepper is loading up on. The US-based tire manufacturing giant gained 89.00% in the last year, and posted $4.93 billion in revenue for the third quarter, beating estimates by $270.20 million. David Tepper increased his holding in the company by 65% over the last quarter.

Out of 867 elite hedge funds tracked by Insider Monkey, 37 were bullish on The Goodyear Tire & Rubber Company (NASDAQ:GT) as of the end of the third quarter, up from 33 in the preceding quarter.

Earnings per share for the third quarter came in at $0.72 for The Goodyear Tire & Rubber Company (NASDAQ:GT), which beat consensus estimates by $0.45.

On November 10, Morgan Stanley analyst Victoria Greer raised the firm’s price target on The Goodyear Tire & Rubber Company (NASDAQ:GT) to $23 from $16, and reiterated an ‘Equal Weight’ rating on the company stock. The analyst noted that pricing dynamics were positive for the company heading into 2022, and there is visible scope for further synergies in the long term.