The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,004,455 shares of the company's stock after selling 49,374 shares during the period. Geode Capital Management LLC owned approximately 2.46% of Goodyear Tire & Rubber worth $63,054,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Goodyear Tire & Rubber in the third quarter valued at $45,000. Signaturefd LLC boosted its position in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after purchasing an additional 1,997 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $79,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on GT. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a "buy" rating and a $14.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded 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 raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Goodyear Tire & Rubber has a consensus rating of "Moderate Buy" and an average target price of $13.78.

Goodyear Tire & Rubber Trading Up 1.0 %

Shares of GT stock traded up $0.10 during mid-day trading on Thursday, hitting $9.75. 3,576,721 shares of the company's stock were exchanged, compared to its average volume of 5,019,637. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 40.63 and a beta of 1.49. The stock has a 50-day simple moving average of $9.29 and a two-hundred day simple moving average of $9.17. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. 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 EPS 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 during the quarter, compared to analysts' expectations of $4.91 billion. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal 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.