Cibc World Market Inc. Boosts Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Cibc World Market Inc. boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 72.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,408,001 shares of the company's stock after buying an additional 589,782 shares during the quarter. Cibc World Market Inc. owned 0.49% of Goodyear Tire & Rubber worth $12,672,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GT. Creative Planning raised its holdings in Goodyear Tire & Rubber by 10.9% in the second quarter. Creative Planning now owns 70,973 shares of the company's stock valued at $806,000 after acquiring an additional 6,982 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Goodyear Tire & Rubber by 80.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 28,681 shares of the company's stock valued at $326,000 after acquiring an additional 12,822 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at $178,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Goodyear Tire & Rubber by 102.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 691,152 shares of the company's stock valued at $7,845,000 after buying an additional 350,500 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Goodyear Tire & Rubber by 1,843.6% in the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company's stock valued at $4,204,000 after buying an additional 450,542 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Down 0.1 %

Goodyear Tire & Rubber stock traded down $0.01 during mid-day trading on Wednesday, hitting $8.65. The company's stock had a trading volume of 3,465,164 shares, compared to its average volume of 4,643,150. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $14.00. The firm's 50 day moving average is $9.32 and its 200 day moving average is $9.04. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The company has a market cap of $2.46 billion, a PE ratio of -8.32 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.12. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company's revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GT. StockNews.com lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.30.

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.