Deutsche Bank AG boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 41.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 274,072 shares of the company's stock after buying an additional 79,686 shares during the period. Deutsche Bank AG owned 0.10% of Goodyear Tire & Rubber worth $2,467,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after purchasing an additional 3,059 shares during the period. Signaturefd LLC boosted its stake in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after buying an additional 1,997 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth $54,000. Transce3nd LLC acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth $79,000. Hedge funds and other institutional investors own 84.19% of the company's stock.
Goodyear Tire & Rubber Trading Up 4.0%
Shares of NASDAQ:GT traded up $0.44 during midday trading on Tuesday, reaching $11.39. The company's stock had a trading volume of 5,923,198 shares, compared to its average volume of 5,319,674. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 47.46 and a beta of 1.42. The business has a 50 day moving average price of $10.18 and a 200 day moving average price of $9.62. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $12.58. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The company had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the prior year, the company posted $0.10 EPS. The company's quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. Finally, Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and a consensus target price of $14.00.
View Our Latest Research Report on GT
Goodyear Tire & Rubber Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Goodyear Tire & Rubber, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Goodyear Tire & Rubber wasn't on the list.
While Goodyear Tire & Rubber currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
