Blueshift Asset Management LLC acquired a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 35,573 shares of the company's stock, valued at approximately $320,000.
Other hedge funds have also recently made changes to their positions in the company. Truist Financial Corp lifted its holdings in shares of Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock valued at $205,000 after purchasing an additional 1,115 shares during the last quarter. Barclays PLC grew its position in 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. Geode Capital Management LLC raised its position in Goodyear Tire & Rubber by 1.2% during the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after acquiring an additional 86,227 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Goodyear Tire & Rubber by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock valued at $33,648,000 after purchasing an additional 205,629 shares during the period. Finally, FMR LLC raised its position in shares of Goodyear Tire & Rubber by 28.1% in the third quarter. FMR LLC now owns 842,822 shares of the company's stock worth $7,459,000 after acquiring an additional 184,770 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.
Goodyear Tire & Rubber Stock Up 2.1 %
GT stock traded up $0.20 during midday trading on Wednesday, hitting $9.54. The company's stock had a trading volume of 4,065,875 shares, compared to its average volume of 4,565,433. The firm has a market capitalization of $2.72 billion, a P/E ratio of 39.75 and a beta of 1.71. The firm has a 50-day simple moving average of $9.21 and a 200-day simple moving average of $9.03. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $13.86. 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 posted its quarterly 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 return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Analyst Ratings Changes
GT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. TD Cowen began coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 price objective on the stock. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $13.18.
Check Out Our Latest Research Report on Goodyear Tire & Rubber
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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