Wellington Management Group LLP Sells 478,164 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Wellington Management Group LLP lessened its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,775,525 shares of the company's stock after selling 478,164 shares during the period. Wellington Management Group LLP owned about 8.69% of Goodyear Tire & Rubber worth $222,980,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GT. Norges Bank bought a new stake in Goodyear Tire & Rubber in the 4th quarter valued at $39,626,000. American Century Companies Inc. increased its holdings in shares of Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock valued at $86,871,000 after purchasing an additional 897,463 shares during the last quarter. KLCM Advisors Inc. raised its position in shares of Goodyear Tire & Rubber by 59.4% in the fourth quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company's stock valued at $15,934,000 after purchasing an additional 659,635 shares during the period. Barclays PLC lifted its stake in shares of Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company's stock worth $8,635,000 after buying an additional 598,330 shares during the last quarter. Finally, Cibc World Market Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 72.1% during the 4th quarter. Cibc World Market Inc. now owns 1,408,001 shares of the company's stock worth $12,672,000 after buying an additional 589,782 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT traded down $0.88 during trading hours 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 twelve month low of $7.27 and a twelve month high of $13.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The stock has a fifty day simple moving average of $9.20 and a 200-day simple moving average of $9.12. The company has a market capitalization of $2.51 billion, a P/E ratio of 36.75 and a beta of 1.49.

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 for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. TD Cowen initiated coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. Two research 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's stock. According to MarketBeat.com, the company 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.