Headlands Technologies LLC Buys 27,508 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Headlands Technologies LLC lifted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 156.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,122 shares of the company's stock after purchasing an additional 27,508 shares during the period. Headlands Technologies LLC's holdings in Goodyear Tire & Rubber were worth $406,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. grew its position in Goodyear Tire & Rubber by 65.9% during the fourth quarter. Franklin Resources Inc. now owns 224,124 shares of the company's stock valued at $2,017,000 after purchasing an additional 88,993 shares in the last quarter. IPG Investment Advisors LLC boosted its holdings in shares of Goodyear Tire & Rubber by 21.0% during the 4th quarter. IPG Investment Advisors LLC now owns 2,415,215 shares of the company's stock worth $21,737,000 after buying an additional 418,855 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $1,718,000. New Age Alpha Advisors LLC bought a new position in Goodyear Tire & Rubber in the 4th quarter worth approximately $385,000. Finally, Norges Bank acquired a new position in Goodyear Tire & Rubber during the 4th quarter valued at $39,626,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Goodyear Tire & Rubber Trading Up 14.9 %

NASDAQ:GT traded up $1.26 during mid-day trading on Wednesday, hitting $9.74. The company had a trading volume of 13,412,975 shares, compared to its average volume of 4,943,915. The firm has a market cap of $2.78 billion, a P/E ratio of 40.59 and a beta of 1.49. The business's fifty day moving average is $9.20 and its two-hundred day moving average is $9.13. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. 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, topping 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 firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. As a group, research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber 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.