KBC Group NV lowered its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 96.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GT. Johnson Investment Counsel Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 1st quarter worth approximately $308,000. Janney Montgomery Scott LLC grew its holdings in shares of Goodyear Tire & Rubber by 10.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,801 shares of the company's stock worth $395,000 after purchasing an additional 4,036 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Goodyear Tire & Rubber by 19.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,650 shares of the company's stock worth $182,000 after purchasing an additional 3,212 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of Goodyear Tire & Rubber by 2.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company's stock worth $677,000 after purchasing an additional 1,621 shares in the last quarter. Finally, Net Worth Advisory Group grew its holdings in shares of Goodyear Tire & Rubber by 69.6% during the 1st quarter. Net Worth Advisory Group now owns 20,715 shares of the company's stock worth $191,000 after purchasing an additional 8,499 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.
Goodyear Tire & Rubber Price Performance
GT traded down $0.25 during trading on Wednesday, hitting $11.30. The company's stock had a trading volume of 6,354,571 shares, compared to its average volume of 5,812,999. The firm's 50 day moving average price is $10.95 and its two-hundred day moving average price is $9.86. 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 12 month low of $7.27 and a 12 month high of $12.58. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.31 and a beta of 1.35.
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. The company had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 5.31% and a net margin of 1.30%. The business's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
GT has been the subject of several analyst reports. 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 Exane upgraded Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 target price for the company in a research report on Monday, June 9th. Wall Street Zen downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. BNP Paribas upgraded Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Finally, 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. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $14.20.
Check Out Our Latest Stock Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Company Profile
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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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