Geode Capital Management LLC Sells 49,374 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Geode Capital Management LLC reduced its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,004,455 shares of the company's stock after selling 49,374 shares during the quarter. Geode Capital Management LLC owned approximately 2.46% of Goodyear Tire & Rubber worth $63,054,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Allworth Financial LP grew its holdings in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after buying an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth approximately $45,000. Signaturefd LLC boosted its position in shares of Goodyear Tire & Rubber by 61.2% in the 4th 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. Newbridge Financial Services Group Inc. acquired a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $79,000. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

GT traded up $0.10 during trading on Friday, hitting $9.75. The company's stock had a trading volume of 3,576,817 shares, compared to its average volume of 5,031,272. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.26. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 40.63 and a beta of 1.49. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The firm's 50 day moving average price is $9.32 and its two-hundred day moving average price is $9.17.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS 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 during the quarter, compared to the consensus estimate of $4.91 billion. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on GT shares. StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised 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. Finally, Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $13.78.

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.