KBC Group NV Decreases Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

KBC Group NV lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 96.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,694 shares of the company's stock after selling 304,492 shares during the quarter. KBC Group NV's holdings in Goodyear Tire & Rubber were worth $108,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in Goodyear Tire & Rubber by 147.5% in the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after purchasing an additional 1,674 shares during the last quarter. UMB Bank n.a. raised its stake in Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after acquiring an additional 1,748 shares during the period. Farther Finance Advisors LLC lifted its holdings in Goodyear Tire & Rubber by 1,799.1% during the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock valued at $37,000 after purchasing an additional 3,868 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $46,000. Finally, Signaturefd LLC raised its position in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after purchasing an additional 1,997 shares during the period. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Trading Down 0.6%

Shares of Goodyear Tire & Rubber stock traded down $0.07 on Thursday, hitting $11.24. The stock had a trading volume of 2,387,042 shares, compared to its average volume of 5,800,146. The company has a quick ratio of 0.64, a current ratio of 1.22 and a debt-to-equity ratio of 1.44. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $12.58. The stock's 50-day simple moving average is $10.96 and its two-hundred day simple moving average is $9.87. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.33 and a beta of 1.35.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a return on equity of 5.31% and a net margin of 1.30%. The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the company posted $0.10 earnings per share. Goodyear Tire & Rubber's revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on GT shares. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price for the company in a research report on Monday, March 31st. BNP Paribas raised Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price objective on the stock in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of "Buy" and an average price target of $14.20.

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.