The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 30.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 661,398 shares of the company's stock after selling 293,384 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Goodyear Tire & Rubber worth $5,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. boosted its position in Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company's stock valued at $42,051,000 after buying an additional 4,633,368 shares during the last quarter. AQR Capital Management LLC lifted its stake in Goodyear Tire & Rubber by 91.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company's stock valued at $28,203,000 after acquiring an additional 1,211,519 shares during the period. American Century Companies Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company's stock valued at $82,376,000 after acquiring an additional 1,013,550 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter worth $8,492,000. Finally, Bank of Montreal Can raised its holdings in shares of Goodyear Tire & Rubber by 323.6% during the second quarter. Bank of Montreal Can now owns 976,078 shares of the company's stock worth $11,108,000 after purchasing an additional 745,636 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on GT shares. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Finally, Wolfe Research cut shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $13.30.

Goodyear Tire & Rubber Price Performance

GT traded down $0.25 on Thursday, hitting $8.75. 3,745,861 shares of the company's stock were exchanged, compared to its average volume of 4,068,270. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $14.97. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -8.41 and a beta of 1.77. The firm has a 50-day moving average price of $9.40 and a 200-day moving average price of $9.44. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The business's revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.