Prudential Financial Inc. Sells 522,410 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Prudential Financial Inc. decreased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 58.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 372,414 shares of the company's stock after selling 522,410 shares during the period. Prudential Financial Inc. owned 0.13% of Goodyear Tire & Rubber worth $3,352,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GT. Truist Financial Corp boosted its stake in shares of Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company's stock worth $205,000 after acquiring an additional 1,115 shares during the period. Barclays PLC lifted its holdings in Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock worth $8,635,000 after purchasing an additional 598,330 shares in the last quarter. Geode Capital Management LLC boosted its stake in Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company's stock worth $62,438,000 after purchasing an additional 86,227 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Goodyear Tire & Rubber by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock worth $33,648,000 after purchasing an additional 205,629 shares during the period. Finally, FMR LLC grew its holdings in Goodyear Tire & Rubber by 28.1% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in 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 target price for the company in a research report on Monday, March 31st. TD Cowen initiated 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. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. Finally, StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber has a consensus rating of "Moderate Buy" and a consensus target price of $13.78.

Goodyear Tire & Rubber Trading Down 4.8 %

Shares of NASDAQ:GT traded down $0.49 during trading on Friday, reaching $9.70. The company's stock had a trading volume of 11,129,000 shares, compared to its average volume of 4,829,291. The firm's 50 day simple moving average is $9.20 and its two-hundred day simple moving average is $9.10. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.48. The stock has a market capitalization of $2.77 billion, a PE ratio of 40.42 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analysts' expectations of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal 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.