ProShare Advisors LLC Has $842,000 Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

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

Several other institutional investors have also modified their holdings of GT. Allworth Financial LP lifted its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after acquiring an additional 3,059 shares in the last quarter. Signaturefd LLC lifted its stake in Goodyear Tire & Rubber by 61.2% in the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after acquiring an additional 1,997 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at approximately $54,000. Transce3nd LLC bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at approximately $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at approximately $79,000. Institutional investors own 84.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on GT shares. 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 note on Monday, March 31st. TD Cowen began coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 price target (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Finally, Wall Street Zen lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $14.00.

Goodyear Tire & Rubber Price Performance

Shares of GT stock traded up $0.44 on Tuesday, hitting $11.39. 5,923,198 shares of the company's stock were exchanged, compared to its average volume of 5,319,674. 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 Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $12.58. The stock has a market cap of $3.25 billion, a P/E ratio of 47.46 and a beta of 1.42. The company has a 50 day moving average of $10.14 and a 200 day moving average of $9.61.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced 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 return on equity of 6.21% and a net margin of 0.37%. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the company earned $0.10 EPS. Goodyear Tire & Rubber's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber 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.