Marshall Wace LLP Purchases 643,597 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Marshall Wace LLP increased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 883.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 716,414 shares of the company's stock after purchasing an additional 643,597 shares during the period. Marshall Wace LLP owned approximately 0.25% of Goodyear Tire & Rubber worth $6,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its holdings in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company's stock valued at $40,000 after buying an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber in the 3rd quarter worth approximately $45,000. Signaturefd LLC raised 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 acquiring an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber during the fourth quarter valued at approximately $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth approximately $79,000. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock traded down $0.15 during trading on Tuesday, reaching $10.93. 932,548 shares of the stock traded hands, compared to its average volume of 5,085,405. 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 company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 45.52 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 business has a fifty day simple moving average of $9.50 and a two-hundred day simple moving average of $9.28.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GT. Argus upgraded 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 research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a research report on Monday, March 31st. StockNews.com cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, TD Cowen started coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price target on the stock. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and an average target price of $13.78.

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.