Prudential Financial Inc. Cuts Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Prudential Financial Inc. lessened its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 58.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 372,414 shares of the company’s stock after selling 522,410 shares during the period. Prudential Financial Inc. owned about 0.13% of Goodyear Tire & Rubber worth $3,352,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. American Century Companies Inc. raised its stake in Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after buying an additional 897,463 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after acquiring an additional 86,227 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of 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 worth $46,330,000 after purchasing an additional 396,230 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Goodyear Tire & Rubber by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company’s stock valued at $33,648,000 after purchasing an additional 205,629 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its position in Goodyear Tire & Rubber by 59.4% during the fourth quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock valued at $15,934,000 after purchasing an additional 659,635 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Up 2.0 %

NASDAQ:GT opened at $9.12 on Thursday. The company’s 50 day moving average is $9.18 and its two-hundred day moving average is $9.08. The company has a market cap of $2.60 billion, a PE ratio of 38.00 and a beta of 1.49. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.78. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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. Analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on GT. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a “buy” rating and a $14.00 price target on the stock. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.78.

Goodyear Tire & Rubber Company 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.