The Goodyear Tire & Rubber Company (NASDAQ:GT) Stock Holdings Decreased by KBC Group NV

KBC Group NV cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 96.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,694 shares of the company's stock after selling 304,492 shares during the period. KBC Group NV's holdings in Goodyear Tire & Rubber were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GT. Brevan Howard Capital Management LP acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $606,000. Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $39,626,000. Capula Management Ltd acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $330,000. Franklin Resources Inc. grew its position in shares of Goodyear Tire & Rubber by 65.9% in the fourth quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock valued at $2,017,000 after purchasing an additional 88,993 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Goodyear Tire & Rubber by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock valued at $33,648,000 after purchasing an additional 205,629 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GT. BNP Paribas Exane upgraded shares of 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, June 9th. 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. Deutsche Bank Aktiengesellschaft upgraded shares of 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. 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, BNP Paribas upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Goodyear Tire & Rubber currently has an average rating of "Buy" and a consensus price target of $14.20.

Goodyear Tire & Rubber Trading Up 6.1%

GT traded up $0.66 on Tuesday, reaching $11.55. 8,701,748 shares of the company's stock were exchanged, compared to its average volume of 6,160,738. The company's 50 day moving average is $10.94 and its 200-day moving average is $9.85. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.33 and a beta of 1.35. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.58. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22.

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 the consensus estimate of ($0.06) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.41 billion. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Equities analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share 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.