JPMorgan Chase & Co. decreased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 14.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 835,087 shares of the company's stock after selling 136,679 shares during the period. JPMorgan Chase & Co. owned 0.29% of Goodyear Tire & Rubber worth $7,516,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. HighTower Advisors LLC purchased a new stake in Goodyear Tire & Rubber during the 3rd quarter worth $253,000. Barclays PLC boosted its stake in shares of Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company's stock valued at $8,635,000 after purchasing an additional 598,330 shares during the period. M&T Bank Corp acquired a new position in shares of Goodyear Tire & Rubber in the third quarter worth about $393,000. Geode Capital Management LLC grew its stake in Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock valued at $62,438,000 after purchasing an additional 86,227 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 84.19% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on GT shares. Deutsche Bank Aktiengesellschaft upgraded 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 note on Monday, March 31st. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. TD Cowen began coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price target for the company. Finally, Argus upgraded 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 equities 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 company. According to data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of "Moderate Buy" and a consensus target price of $13.78.
Check Out Our Latest Research Report on GT
Goodyear Tire & Rubber Stock Performance
Shares of GT traded up $0.23 during midday trading on Tuesday, hitting $10.16. 337,743 shares of the stock traded hands, compared to its average volume of 5,026,559. The business's 50 day moving average price is $9.38 and its two-hundred day moving average price is $9.20. The firm has a market capitalization of $2.90 billion, a PE ratio of 42.44 and a beta of 1.49. 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 1-year low of $7.27 and a 1-year high of $13.26.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.91 billion. Equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.
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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