KBC Group NV Lowers Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

KBC Group NV lowered 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 and Exchange Commission (SEC). 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 quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after purchasing an additional 1,674 shares during the last quarter. UMB Bank n.a. increased its position in shares of Goodyear Tire & Rubber by 125.9% during the first quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after buying an additional 1,748 shares during the period. Farther Finance Advisors LLC raised its stake 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 worth $37,000 after buying an additional 3,868 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Goodyear Tire & Rubber during the fourth quarter worth $46,000. Finally, Signaturefd LLC raised its stake 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. Institutional investors and hedge funds own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

GT traded down $0.26 during midday trading on Friday, hitting $11.19. The stock had a trading volume of 6,503,249 shares, compared to its average volume of 5,823,225. The company has a market cap of $3.20 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 0.32 and a beta of 1.35. The business has a fifty day moving average of $10.97 and a 200 day moving average of $9.89. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $12.58.

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

Analyst Ratings Changes

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

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.