The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 65.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,800 shares of the company's stock after selling 351,900 shares during the period. Canada Pension Plan Investment Board owned about 0.06% of Goodyear Tire & Rubber worth $1,654,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $39,626,000. Capula Management Ltd acquired a new stake in Goodyear Tire & Rubber in the fourth quarter valued at approximately $330,000. Truist Financial Corp increased its stake in shares of Goodyear Tire & Rubber by 5.2% during the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after purchasing an additional 1,115 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Goodyear Tire & Rubber by 65.9% in the fourth quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock worth $2,017,000 after acquiring an additional 88,993 shares during the last quarter. Finally, Barclays PLC lifted its stake in Goodyear Tire & Rubber by 158.6% in 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 in the last quarter. Institutional investors own 84.19% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on GT shares. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. StockNews.com downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Thursday. 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 target price on the stock. Finally, Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research note on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT traded up $0.07 on Monday, hitting $11.01. 3,223,092 shares of the company's stock were exchanged, compared to its average volume of 5,093,399. The firm's 50-day moving average price is $9.49 and its two-hundred day moving average price is $9.26. 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 firm has a market cap of $3.14 billion, a price-to-earnings ratio of 45.86 and a beta of 1.49. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26.

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 the consensus estimate 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. On average, research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

About Goodyear Tire & Rubber

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.