The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 65.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,124 shares of the company's stock after buying an additional 88,993 shares during the period. Franklin Resources Inc. owned about 0.08% of Goodyear Tire & Rubber worth $2,017,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after acquiring an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber during the third quarter valued at approximately $45,000. Signaturefd LLC increased its holdings in Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after buying an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Goodyear Tire & Rubber in the fourth quarter worth approximately $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $79,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT traded up $0.10 during mid-day trading on Friday, hitting $9.75. The stock had a trading volume of 3,576,817 shares, compared to its average volume of 5,036,936. The firm has a market cap of $2.78 billion, a PE ratio of 40.63 and a beta of 1.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The company has a 50 day moving average of $9.35 and a two-hundred day moving average of $9.18. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a research report on Monday, March 31st. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 target price for the company. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and an average target price of $13.78.

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.