Geode Capital Management LLC Has $62.44 Million Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Geode Capital Management LLC boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 7,053,829 shares of the company's stock after acquiring an additional 86,227 shares during the period. Geode Capital Management LLC owned 2.48% of Goodyear Tire & Rubber worth $62,438,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. M&T Bank Corp bought a new position in Goodyear Tire & Rubber during the 3rd quarter worth approximately $393,000. Barclays PLC raised its holdings in Goodyear Tire & Rubber by 158.6% in the third 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. MML Investors Services LLC boosted its position in shares of Goodyear Tire & Rubber by 75.1% during the third quarter. MML Investors Services LLC now owns 381,539 shares of the company's stock worth $3,377,000 after purchasing an additional 163,693 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Goodyear Tire & Rubber by 173.5% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 414,439 shares of the company's stock valued at $3,661,000 after buying an additional 262,886 shares during the period. Finally, Whitebox Advisors LLC increased its position in shares of Goodyear Tire & Rubber by 69.5% in the 3rd quarter. Whitebox Advisors LLC now owns 693,028 shares of the company's stock valued at $6,133,000 after buying an additional 284,168 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Up 0.3 %

Goodyear Tire & Rubber stock traded up $0.03 during midday trading on Friday, reaching $8.62. The stock had a trading volume of 10,051,929 shares, compared to its average volume of 4,342,762. The stock has a market capitalization of $2.46 billion, a P/E ratio of -8.29 and a beta of 1.77. The firm's fifty day simple moving average is $9.32 and its 200-day simple moving average is $9.61. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $14.97.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. The business had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The firm's revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, analysts expect that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday. StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. Finally, Wolfe Research lowered shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $13.30.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.