Russell Investments Group Ltd. Purchases 57,028 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Russell Investments Group Ltd. grew its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 20.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 331,902 shares of the company's stock after purchasing an additional 57,028 shares during the period. Russell Investments Group Ltd. owned about 0.12% of Goodyear Tire & Rubber worth $2,987,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of GT. 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 worth $40,000 after purchasing an additional 3,059 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $45,000. Signaturefd LLC increased its position in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after acquiring an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter valued at approximately $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Goodyear Tire & Rubber during the fourth quarter worth $79,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GT. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price for the company in a research report on Monday, March 31st. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. 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 for the company. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a research note on Tuesday, February 18th. Two investment 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Performance

Shares of GT traded up $0.36 during trading hours on Wednesday, hitting $10.81. The company's stock had a trading volume of 1,515,007 shares, compared to its average volume of 5,041,779. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 45.04 and a beta of 1.49. 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 business has a 50 day simple moving average of $9.43 and a two-hundred day simple moving average of $9.21. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-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 (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.95 billion for the quarter, compared to analysts' expectations of $4.91 billion. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal 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.