Barclays PLC decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 755,716 shares of the company's stock after selling 219,918 shares during the period. Barclays PLC owned about 0.27% of Goodyear Tire & Rubber worth $6,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of GT. Summit Investment Advisors Inc. increased its holdings in Goodyear Tire & Rubber by 2.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 88,280 shares of the company's stock worth $795,000 after acquiring an additional 1,709 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Goodyear Tire & Rubber by 815.3% in the fourth quarter. Sterling Capital Management LLC now owns 8,979 shares of the company's stock worth $81,000 after purchasing an additional 7,998 shares in the last quarter. Kennedy Capital Management LLC raised its position in shares of Goodyear Tire & Rubber by 10.9% during the 4th quarter. Kennedy Capital Management LLC now owns 622,611 shares of the company's stock valued at $5,603,000 after purchasing an additional 61,089 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at $193,000. Finally, Capula Management Ltd purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at $330,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Price Performance
Goodyear Tire & Rubber stock traded up $0.13 during midday trading on Monday, reaching $11.07. 5,411,572 shares of the stock traded hands, compared to its average volume of 5,101,583. 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 12 month low of $7.27 and a 12 month high of $13.26. The stock's fifty day moving average is $9.49 and its 200-day moving average is $9.26. The stock has a market cap of $3.16 billion, a P/E ratio of 46.13 and a beta of 1.49.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share 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 analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. TD Cowen started coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a research note on Monday, March 31st. Argus upgraded 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. Finally, StockNews.com cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $13.78.
Check Out Our Latest Research Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Profile
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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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