Wellington Management Group LLP Has $226.29 Million Stock Holdings in The Goodyear Tire & Rubber Company $GT

Key Points

• Wellington Management Group LLP reduced its stake in The Goodyear Tire & Rubber Company by 1.2%, owning approximately 24.5 million shares valued at $226.3 million.
• Goodyear's recent earnings report revealed a loss of ($0.17) EPS, falling short of analysts' expectations, with revenue also declining by 2.3% year-over-year.
• Analysts have mixed ratings on Goodyear, with one "Strong Buy", three "Buy", and three "Hold" ratings, and a target price averaging $12.80.

Wellington Management Group LLP reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 24,489,875 shares of the company's stock after selling 285,650 shares during the quarter. Wellington Management Group LLP owned approximately 8.59% of Goodyear Tire & Rubber worth $226,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GT. Nuveen LLC acquired a new position in shares of Goodyear Tire & Rubber during the first quarter worth approximately $20,422,000. Maple Rock Capital Partners Inc. bought a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $16,875,000. CenterBook Partners LP bought a new stake in Goodyear Tire & Rubber in the first quarter valued at $13,413,000. Atlantic Investment Management Inc. bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $11,803,000. Finally, American Century Companies Inc. grew its position in Goodyear Tire & Rubber by 11.7% in the first quarter. American Century Companies Inc. now owns 10,786,387 shares of the company's stock valued at $99,666,000 after acquiring an additional 1,134,058 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Up 4.8%

Shares of NASDAQ GT traded up $0.40 during mid-day trading on Friday, reaching $8.65. 9,535,911 shares of the company's stock were exchanged, compared to its average volume of 9,518,539. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.73 and a beta of 1.37. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The business has a fifty day simple moving average of $10.21 and a 200 day simple moving average of $10.08. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). The firm had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 earnings per share. As a group, equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. BNP Paribas Exane reiterated a "neutral" rating and issued a $9.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. HSBC reiterated a "hold" rating and issued a $9.50 price target (down previously from $15.50) on shares of Goodyear Tire & Rubber in a report on Wednesday. BNP Paribas lowered Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.25.

Goodyear Tire & Rubber Company 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.