Franklin Resources Inc. increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 65.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 224,124 shares of the company's stock after acquiring an additional 88,993 shares during the period. Franklin Resources Inc. owned about 0.08% of Goodyear Tire & Rubber worth $2,017,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Truist Financial Corp raised its holdings in Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after purchasing an additional 1,115 shares during the last quarter. Amalgamated Bank lifted its holdings in Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company's stock valued at $1,147,000 after buying an additional 1,156 shares during the period. Sanctuary Advisors LLC boosted its position in Goodyear Tire & Rubber by 11.3% during the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock valued at $110,000 after acquiring an additional 1,209 shares during the last quarter. Barnett & Company Inc. grew its holdings 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 acquiring an additional 1,300 shares during the period. Finally, Harbour Investments Inc. raised its position in shares of Goodyear Tire & Rubber by 19.0% in the 4th quarter. Harbour Investments Inc. now owns 8,754 shares of the company's stock worth $79,000 after acquiring an additional 1,399 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.
Goodyear Tire & Rubber Price Performance
Shares of GT traded up $0.04 during mid-day trading on Thursday, reaching $9.69. 2,271,696 shares of the stock traded hands, compared to its average volume of 5,014,724. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 40.40 and a beta of 1.49. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.26. The firm has a fifty day moving average price of $9.29 and a 200 day moving average price of $9.17. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on GT shares. TD Cowen started coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a "buy" rating and a $14.00 target price for the company. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price target for the company in a research report on Monday, March 31st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $13.78.
Get Our Latest Analysis 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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