Point72 Asset Management L.P. trimmed its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 17.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 850,798 shares of the company's stock after selling 178,879 shares during the period. Point72 Asset Management L.P. owned 0.30% of Goodyear Tire & Rubber worth $7,657,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Goodyear Tire & Rubber by 158.6% in the third 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. Franklin Resources Inc. grew its stake in shares of Goodyear Tire & Rubber by 11.0% in the third quarter. Franklin Resources Inc. now owns 135,131 shares of the company's stock worth $1,139,000 after acquiring an additional 13,349 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $349,000. KBC Group NV grew its stake in shares of Goodyear Tire & Rubber by 3,912.0% in the fourth quarter. KBC Group NV now owns 316,186 shares of the company's stock worth $2,846,000 after acquiring an additional 308,305 shares during the last quarter. Finally, Sippican Capital Advisors purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter worth $842,000. 84.19% of the stock is owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Stock Performance
Shares of NASDAQ:GT traded down $0.18 during midday trading on Friday, reaching $10.95. 5,665,060 shares of the company's stock traded hands, compared to its average volume of 5,317,250. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 45.63 and a beta of 1.42. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $12.58. The stock has a 50 day moving average of $10.10 and a 200 day moving average of $9.60.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the prior year, the company earned $0.10 earnings per share. Goodyear Tire & Rubber's revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have 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 on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday. Wall Street Zen downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Finally, TD Cowen began coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and an average target price of $14.00.
Get Our Latest Research Report on GT
Goodyear Tire & Rubber 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.
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