Vanguard Group Inc. Has $255.14 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Vanguard Group Inc. trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,349,291 shares of the company's stock after selling 2,299,188 shares during the quarter. Vanguard Group Inc. owned about 9.95% of Goodyear Tire & Rubber worth $255,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Goodyear Tire & Rubber in the third quarter worth $45,000. Signaturefd LLC grew its holdings in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after buying an additional 1,997 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Goodyear Tire & Rubber during the fourth quarter valued at $54,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth about $79,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Up 14.9 %

Goodyear Tire & Rubber stock traded up $1.26 during mid-day trading on Wednesday, hitting $9.74. The stock had a trading volume of 13,412,975 shares, compared to its average volume of 4,943,915. The stock has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $9.13. 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 stock has a market capitalization of $2.78 billion, a PE ratio of 40.59 and a beta of 1.49. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) 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 business had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.91 billion. As a group, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GT. StockNews.com raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a research report on Monday, March 31st. TD Cowen started coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 price target for the company. Finally, Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.78.

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.