Mirabella Financial Services LLP cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 88.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,342 shares of the company's stock after selling 170,078 shares during the period. Mirabella Financial Services LLP's holdings in Goodyear Tire & Rubber were worth $201,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in GT. Truist Financial Corp grew its position in shares of Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after purchasing an additional 1,115 shares during the last quarter. Amalgamated Bank grew its position in shares of Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company's stock valued at $1,147,000 after purchasing an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock valued at $110,000 after purchasing an additional 1,209 shares during the last quarter. Barnett & Company Inc. grew its position in shares of Goodyear Tire & Rubber by 1.4% in the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock valued at $861,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Harbour Investments Inc. grew its position in shares of Goodyear Tire & Rubber by 19.0% in the fourth quarter. Harbour Investments Inc. now owns 8,754 shares of the company's stock valued at $79,000 after purchasing an additional 1,399 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Trading Down 0.2 %
NASDAQ:GT traded down $0.02 during trading hours on Friday, reaching $10.94. 4,100,302 shares of the company were exchanged, compared to its average volume of 5,100,335. 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 firm has a market cap of $3.12 billion, a price-to-earnings ratio of 45.59 and a beta of 1.49. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.26. The stock has a 50 day simple moving average of $9.49 and a 200 day simple moving average of $9.26.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate 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, analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Analysts Set New Price Targets
Several research firms have recently commented on GT. Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Tuesday, February 18th. 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 on the stock. StockNews.com lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a research report on Monday, March 31st. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $13.78.
Check Out Our Latest Analysis on Goodyear Tire & Rubber
About Goodyear Tire & Rubber
(
Free Report)
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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