Swiss National Bank Has $4.79 Million Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Swiss National Bank reduced its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 531,958 shares of the company’s stock after selling 23,700 shares during the period. Swiss National Bank owned about 0.19% of Goodyear Tire & Rubber worth $4,788,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GT. Allworth Financial LP increased its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after buying an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at about $45,000. Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $54,000. Private Trust Co. NA boosted its position in Goodyear Tire & Rubber by 110.4% during the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock valued at $62,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at approximately $79,000. 84.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $9.46 on Tuesday. The firm has a market capitalization of $2.70 billion, a PE ratio of 39.42 and a beta of 1.71. 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 company’s 50-day moving average is $9.20 and its 200-day moving average is $9.02. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.86.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Equities analysts forecast 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.