The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by US Bancorp DE

US Bancorp DE grew its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 20.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,281 shares of the company’s stock after buying an additional 3,163 shares during the quarter. US Bancorp DE’s holdings in Goodyear Tire & Rubber were worth $162,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in Goodyear Tire & Rubber by 41.6% during the first quarter. Tidal Investments LLC now owns 63,967 shares of the company’s stock worth $878,000 after acquiring an additional 18,790 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Goodyear Tire & Rubber by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock worth $30,817,000 after purchasing an additional 71,410 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Goodyear Tire & Rubber by 2,944.7% in the 1st quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock worth $21,600,000 after purchasing an additional 1,611,966 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Goodyear Tire & Rubber by 1,011.8% during the second quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock valued at $7,197,000 after purchasing an additional 577,045 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Goodyear Tire & Rubber by 132.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 224,158 shares of the company’s stock worth $3,077,000 after buying an additional 127,610 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Down 1.7 %

Shares of NASDAQ:GT opened at $9.33 on Friday. The firm has a 50 day simple moving average of $8.47 and a 200 day simple moving average of $10.10. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The company has a market cap of $2.66 billion, a PE ratio of -8.97 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts expect that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

GT has been the topic of several research reports. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber 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.