Northern Trust Corp Raises Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Northern Trust Corp increased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,941,378 shares of the company's stock after purchasing an additional 573,541 shares during the quarter. Northern Trust Corp owned approximately 1.38% of Goodyear Tire & Rubber worth $35,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. lifted its holdings in Goodyear Tire & Rubber by 10.3% during the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock valued at $86,871,000 after purchasing an additional 897,463 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Goodyear Tire & Rubber by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock worth $46,330,000 after buying an additional 396,230 shares during the period. Norges Bank bought a new stake in Goodyear Tire & Rubber during the fourth quarter valued at about $39,626,000. Charles Schwab Investment Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock valued at $33,648,000 after acquiring an additional 205,629 shares in the last quarter. Finally, IPG Investment Advisors LLC boosted its stake in shares of Goodyear Tire & Rubber by 21.0% in the fourth quarter. IPG Investment Advisors LLC now owns 2,415,215 shares of the company's stock worth $21,737,000 after acquiring an additional 418,855 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock opened at $10.86 on Friday. 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 Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.26. The company's 50-day moving average price is $9.76 and its 200-day moving average price is $9.43. The company has a market cap of $3.10 billion, a PE ratio of 45.25 and a beta of 1.42.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 earnings per share. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GT. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target on the stock 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 for the company. StockNews.com cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $13.25.

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.

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