Moody National Bank Trust Division Has $1.33 Million Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Moody National Bank Trust Division increased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 166.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,758 shares of the company’s stock after buying an additional 60,488 shares during the period. Moody National Bank Trust Division’s holdings in Goodyear Tire & Rubber were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Goodyear Tire & Rubber by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 29,102,067 shares of the company’s stock valued at $416,742,000 after buying an additional 576,369 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Goodyear Tire & Rubber by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,501,327 shares of the company’s stock valued at $236,302,000 after acquiring an additional 557,038 shares during the last quarter. Wellington Management Group LLP increased its stake in Goodyear Tire & Rubber by 48.2% in the fourth quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after acquiring an additional 4,870,381 shares during the last quarter. American Century Companies Inc. increased its stake in Goodyear Tire & Rubber by 24.9% in the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock valued at $59,348,000 after acquiring an additional 953,047 shares during the last quarter. Finally, Norges Bank bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $66,842,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Down 2.5 %

NASDAQ GT opened at $11.24 on Thursday. The firm’s fifty day moving average price is $12.21 and its two-hundred day moving average price is $12.98. The Goodyear Tire & Rubber Company has a fifty-two week low of $11.23 and a fifty-two week high of $16.50. The company has a quick ratio of 0.60, a current ratio of 1.15 and a debt-to-equity ratio of 1.56.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The company’s revenue was down 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GT. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Thursday, May 16th. HSBC decreased their price objective on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Morgan Stanley started coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and an average price target of $17.23.

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.