Dimensional Fund Advisors LP lessened its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,938,640 shares of the company’s stock after selling 98,956 shares during the quarter. Dimensional Fund Advisors LP owned 5.12% of The Goodyear Tire & Rubber worth $130,247,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GT. Inspire Advisors LLC purchased a new position in shares of The Goodyear Tire & Rubber during the fourth quarter worth approximately $26,000. Point72 Hong Kong Ltd grew its holdings in shares of The Goodyear Tire & Rubber by 286.1% during the 3rd quarter. Point72 Hong Kong Ltd now owns 8,885 shares of the company’s stock valued at $68,000 after purchasing an additional 6,584 shares during the last quarter. International Assets Investment Management LLC purchased a new position in The Goodyear Tire & Rubber in the 4th quarter worth $38,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The Goodyear Tire & Rubber in the fourth quarter worth $113,000. Finally, Cetera Investment Advisers purchased a new stake in The Goodyear Tire & Rubber during the fourth quarter valued at about $115,000. Institutional investors and hedge funds own 78.00% of the company’s stock.
A number of research firms have recently weighed in on GT. Northcoast Research boosted their target price on The Goodyear Tire & Rubber from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, February 10th. Nomura lowered The Goodyear Tire & Rubber from a “neutral” rating to a “reduce” rating and dropped their price objective for the company from $10.00 to $7.00 in a research note on Monday, January 4th. TheStreet raised shares of The Goodyear Tire & Rubber from a “d+” rating to a “c-” rating in a research note on Monday, March 1st. Argus upgraded shares of The Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, February 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of The Goodyear Tire & Rubber from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, January 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $13.56.
Shares of NASDAQ GT opened at $17.72 on Thursday. The Goodyear Tire & Rubber Company has a 1 year low of $5.73 and a 1 year high of $19.38. The stock has a market capitalization of $4.13 billion, a P/E ratio of -2.42 and a beta of 2.17. The company’s 50-day moving average is $17.06 and its 200 day moving average is $12.07. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.16 and a quick ratio of 0.72.
The Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, February 8th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.28. The Goodyear Tire & Rubber had a negative return on equity of 14.22% and a negative net margin of 13.81%. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period in the previous year, the firm posted $0.19 EPS. The business’s revenue was down 1.5% on a year-over-year basis. Research analysts anticipate that The Goodyear Tire & Rubber Company will post -2.2 earnings per share for the current year.
About The Goodyear Tire & Rubber
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, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.
Featured Story: What are momentum indicators and what do they show?
Receive News & Ratings for The Goodyear Tire & Rubber Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goodyear Tire & Rubber and related companies with MarketBeat.com's FREE daily email newsletter.