Rhumbline Advisers cut its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 953,937 shares of the company's stock after selling 22,018 shares during the quarter. Rhumbline Advisers owned 0.33% of Goodyear Tire & Rubber worth $8,814,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its position in 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 acquiring an additional 3,059 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Goodyear Tire & Rubber in the fourth quarter worth $46,000. Signaturefd LLC increased its position 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 buying an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Goodyear Tire & Rubber during the fourth quarter valued at about $54,000. Finally, Parallel Advisors LLC lifted its position in shares of Goodyear Tire & Rubber by 72.8% in the first quarter. Parallel Advisors LLC now owns 5,822 shares of the company's stock worth $54,000 after buying an additional 2,452 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.
Goodyear Tire & Rubber Stock Down 1.1%
NASDAQ:GT traded down $0.13 on Thursday, hitting $11.47. 1,289,908 shares of the company's stock were exchanged, compared to its average volume of 5,471,217. The firm has a 50-day moving average price of $10.62 and a 200-day moving average price of $9.77. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.58. 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 company has a market cap of $3.28 billion, a P/E ratio of 47.79 and a beta of 1.40.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly 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 business had revenue of $4.25 billion for the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter in the prior year, the business earned $0.10 EPS. The firm's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently weighed in on GT. BNP Paribas upgraded Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research note on Monday. JPMorgan Chase & Co. restated an "overweight" rating and issued a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price target for the company. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Finally, BNP Paribas Exane raised Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 target price on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.17.
View Our Latest Report on Goodyear Tire & Rubber
About Goodyear Tire & Rubber
(
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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