The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 835,087 shares of the company's stock after selling 136,679 shares during the quarter. JPMorgan Chase & Co. owned 0.29% of Goodyear Tire & Rubber worth $7,516,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GT. 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 report on Monday, March 31st. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock traded up $0.52 during midday trading on Tuesday, reaching $10.45. The company's stock had a trading volume of 5,353,639 shares, compared to its average volume of 5,055,216. The stock's 50 day simple moving average is $9.43 and its 200 day simple moving average is $9.21. 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 firm has a market capitalization of $2.98 billion, a PE ratio of 43.54 and a beta of 1.49. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber 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.