ProShare Advisors LLC Acquires 27,308 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

ProShare Advisors LLC lifted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 41.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,577 shares of the company's stock after acquiring an additional 27,308 shares during the quarter. ProShare Advisors LLC's holdings in Goodyear Tire & Rubber were worth $842,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in shares of Goodyear Tire & Rubber by 251.8% in the 4th 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 boosted its holdings in shares of Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after buying an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth about $54,000. Transce3nd LLC purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth about $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth about $79,000. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

Shares of GT stock traded down $0.26 during trading on Thursday, hitting $11.30. The company had a trading volume of 1,603,274 shares, compared to its average volume of 5,326,820. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The stock's 50-day moving average is $10.23 and its two-hundred day moving average is $9.64. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 47.11 and a beta of 1.42. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.58.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.41 billion. During the same period in the prior year, the business earned $0.10 earnings per share. Goodyear Tire & Rubber's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BNP Paribas upgraded shares of Goodyear Tire & Rubber to a "hold" rating in a research report on Saturday, May 24th. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. restated an "overweight" rating and set a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. 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 research report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $14.00.

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.