Vontobel Holding Ltd. Decreases Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Vontobel Holding Ltd. cut its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 60.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,908 shares of the company's stock after selling 44,410 shares during the period. Vontobel Holding Ltd.'s holdings in Goodyear Tire & Rubber were worth $260,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber during the 3rd quarter valued at $45,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $54,000. Private Trust Co. NA increased its stake in shares of Goodyear Tire & Rubber by 110.4% in the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company's stock worth $62,000 after purchasing an additional 3,700 shares in the last quarter. AM Squared Ltd purchased a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth $92,000. Finally, Apollon Wealth Management LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth $92,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on GT. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research note on Tuesday. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.98.

Goodyear Tire & Rubber Trading Down 5.4 %

Shares of Goodyear Tire & Rubber stock opened at $9.98 on Friday. The company has a market capitalization of $2.84 billion, a P/E ratio of 41.59 and a beta of 1.79. 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 company has a fifty day moving average of $9.04 and a 200 day moving average of $8.89. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. On average, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.

Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.