Advisory Services Network LLC Cuts Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Advisory Services Network LLC lessened its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 46.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,710 shares of the company's stock after selling 34,767 shares during the quarter. Advisory Services Network LLC's holdings in Goodyear Tire & Rubber were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GT. HighTower Advisors LLC bought a new position in shares of Goodyear Tire & Rubber during the third quarter valued at about $253,000. Barclays PLC grew its position in Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock worth $8,635,000 after acquiring an additional 598,330 shares during the last quarter. M&T Bank Corp purchased a new position in Goodyear Tire & Rubber in the 3rd quarter worth approximately $393,000. Geode Capital Management LLC lifted its position in Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after purchasing an additional 86,227 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Up 3.4 %

GT stock traded up $0.36 during midday trading on Wednesday, hitting $10.81. The stock had a trading volume of 1,720,549 shares, compared to its average volume of 5,044,198. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 45.04 and a beta of 1.49. The business has a 50-day moving average of $9.43 and a two-hundred day moving average of $9.21. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. As a group, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GT has been the topic of several analyst reports. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price for the company in a report on Monday, March 31st. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.78.

About Goodyear Tire & Rubber

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.