The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 43.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,111 shares of the company's stock after selling 64,327 shares during the period. Voya Investment Management LLC's holdings in Goodyear Tire & Rubber were worth $766,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth approximately $39,626,000. American Century Companies Inc. increased its stake 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 worth $86,871,000 after acquiring an additional 897,463 shares during the last quarter. KLCM Advisors Inc. raised its position in Goodyear Tire & Rubber by 59.4% in the fourth quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company's stock valued at $15,934,000 after purchasing an additional 659,635 shares during the period. Marshall Wace LLP lifted its stake in shares of Goodyear Tire & Rubber by 883.9% in the 4th quarter. Marshall Wace LLP now owns 716,414 shares of the company's stock valued at $6,448,000 after purchasing an additional 643,597 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock worth $8,635,000 after purchasing an additional 598,330 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Up 0.5 %

Shares of NASDAQ GT opened at $11.02 on Thursday. The stock has a market cap of $3.14 billion, a PE ratio of 45.91 and a beta of 1.42. 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 50-day moving average price of $9.67 and a 200 day moving average price of $9.39. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 target price on the stock. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a research report on Monday, March 31st. StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Finally, Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $13.78.

Goodyear Tire & Rubber Company 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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