35,573 Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT) Bought by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 4th quarter, HoldingsChannel reports. The firm bought 35,573 shares of the company’s stock, valued at approximately $320,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GT. KLCM Advisors Inc. grew its stake in Goodyear Tire & Rubber by 59.4% during the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock worth $15,934,000 after buying an additional 659,635 shares during the last quarter. Barclays PLC grew its stake in Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after purchasing an additional 598,330 shares during the last quarter. Cibc World Market Inc. grew its stake in 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 valued at $12,672,000 after purchasing an additional 589,782 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Goodyear Tire & Rubber by 221.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 678,452 shares of the company’s stock valued at $6,004,000 after purchasing an additional 467,107 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in Goodyear Tire & Rubber by 8.3% during the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock valued at $46,330,000 after purchasing an additional 396,230 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 price target on the stock. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Finally, Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Stock Down 1.8 %

Shares of GT opened at $9.14 on Friday. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.86. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 38.08 and a beta of 1.71. The stock’s 50-day moving average price is $9.19 and its 200-day moving average price is $9.00.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. On average, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber 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.