Deutsche Bank AG Buys 79,686 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Deutsche Bank AG boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 41.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,072 shares of the company's stock after buying an additional 79,686 shares during the period. Deutsche Bank AG owned approximately 0.10% of Goodyear Tire & Rubber worth $2,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Allworth Financial LP boosted its stake in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after buying an additional 3,059 shares during the last quarter. Signaturefd LLC increased its stake in Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Goodyear Tire & Rubber during the fourth quarter worth $54,000. Transce3nd LLC acquired a new stake in Goodyear Tire & Rubber during the fourth quarter worth $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $79,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on GT shares. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research note on Tuesday, February 18th. StockNews.com downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. TD Cowen began coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a report on Monday, March 31st. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.25.

Goodyear Tire & Rubber Trading Down 3.7%

Shares of GT opened at $10.50 on Thursday. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $3.00 billion, a P/E ratio of 43.75 and a beta of 1.42. The stock's fifty day simple moving average is $10.02 and its 200 day simple moving average is $9.57. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.60.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber Company Profile

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.

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