Siemens Fonds Invest GmbH grew its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 282.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,688 shares of the company's stock after purchasing an additional 38,170 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Goodyear Tire & Rubber were worth $465,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock worth $86,871,000 after buying an additional 897,463 shares during the last quarter. Victory Capital Management Inc. raised its stake in Goodyear Tire & Rubber by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock worth $46,330,000 after acquiring an additional 396,230 shares during the period. Norges Bank bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $39,626,000. Northern Trust Corp raised its stake in Goodyear Tire & Rubber by 17.0% during the 4th quarter. Northern Trust Corp now owns 3,941,378 shares of the company's stock worth $35,472,000 after acquiring an additional 573,541 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Goodyear Tire & Rubber by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock worth $33,648,000 after acquiring an additional 205,629 shares during the period. 84.19% of the stock is currently owned by institutional investors.
Goodyear Tire & Rubber Stock Down 0.6%
Goodyear Tire & Rubber stock traded down $0.07 during trading hours on Friday, reaching $11.36. The stock had a trading volume of 5,132,866 shares, compared to its average volume of 5,383,105. The company has a market cap of $3.25 billion, a price-to-earnings ratio of 47.34 and a beta of 1.42. 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 business's 50 day moving average price is $10.31 and its 200-day moving average price is $9.66. 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 announced its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping 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 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 previous year, the company posted $0.10 earnings per share. The firm's revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on GT shares. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 price objective on the stock. Argus upgraded shares of 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. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research note on Monday, March 31st. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. Four research 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $14.00.
Check Out Our Latest Analysis 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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