Arrowstreet Capital Limited Partnership acquired a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 190,859 shares of the company's stock, valued at approximately $1,718,000. Arrowstreet Capital Limited Partnership owned approximately 0.07% of Goodyear Tire & Rubber at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $385,000. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth $39,626,000. EntryPoint Capital LLC acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $104,000. Barnett & Company Inc. grew its stake in Goodyear Tire & Rubber by 1.4% during the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock worth $861,000 after purchasing an additional 1,300 shares in the last quarter. Finally, LPL Financial LLC increased its holdings in Goodyear Tire & Rubber by 1.5% during the 4th quarter. LPL Financial LLC now owns 216,766 shares of the company's stock worth $1,951,000 after purchasing an additional 3,123 shares during the period. 84.19% of the stock is owned by institutional investors and hedge funds.
Goodyear Tire & Rubber Stock Performance
Shares of GT stock traded down $0.04 during mid-day trading on Wednesday, hitting $9.71. The stock had a trading volume of 995,768 shares, compared to its average volume of 5,006,050. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. 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's 50-day simple moving average is $9.26 and its 200-day simple moving average is $9.16. The firm has a market cap of $2.77 billion, a PE ratio of 40.36 and a beta of 1.49.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion during 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%. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GT. Argus raised 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. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.78.
Read Our Latest Stock Analysis on GT
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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