Hsbc Holdings PLC Sells 789,001 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Hsbc Holdings PLC cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 90.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,278 shares of the company's stock after selling 789,001 shares during the period. Hsbc Holdings PLC's holdings in Goodyear Tire & Rubber were worth $790,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Allworth Financial LP raised its holdings in shares of 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 buying an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Goodyear Tire & Rubber during the third quarter worth about $45,000. Signaturefd LLC lifted its holdings in shares of Goodyear Tire & Rubber by 61.2% in the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after acquiring an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $54,000. Finally, Transce3nd LLC acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $61,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Friday. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 target price for the company. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. 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 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $11.01 on Monday. The stock has a market capitalization of $3.14 billion, a PE ratio of 45.88 and a beta of 1.42. The business's 50 day simple moving average is $9.57 and its 200 day simple moving average is $9.35. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted 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. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. As a group, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

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.

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