Mitsubishi UFJ Trust & Banking Corp Sells 46,630 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 58.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,375 shares of the company's stock after selling 46,630 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Goodyear Tire & Rubber were worth $300,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GT. Charles Schwab Investment Management Inc. grew its position in Goodyear Tire & Rubber by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company's stock worth $31,267,000 after purchasing an additional 252,960 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Goodyear Tire & Rubber by 66.7% during the third quarter. Citigroup Inc. now owns 491,990 shares of the company's stock valued at $4,354,000 after buying an additional 196,788 shares in the last quarter. FMR LLC raised its position in Goodyear Tire & Rubber by 28.1% during the third quarter. FMR LLC now owns 842,822 shares of the company's stock valued at $7,459,000 after buying an additional 184,770 shares during the period. BNP Paribas Financial Markets lifted its stake in Goodyear Tire & Rubber by 221.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 678,452 shares of the company's stock worth $6,004,000 after acquiring an additional 467,107 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Goodyear Tire & Rubber by 8.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,429 shares of the company's stock worth $747,000 after acquiring an additional 6,903 shares during the period. Institutional investors and hedge funds own 84.19% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 target price for the company. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded 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. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.78.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT traded down $0.88 during midday trading on Monday, hitting $8.82. The company's stock had a trading volume of 12,142,175 shares, compared to its average volume of 4,870,424. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.48. 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 stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 36.75 and a beta of 1.49. The stock's 50 day simple moving average is $9.20 and its 200 day simple moving average is $9.12.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) 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 firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. As a group, research analysts anticipate 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.