The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,349,291 shares of the company’s stock after selling 2,299,188 shares during the period. Vanguard Group Inc. owned approximately 9.95% of Goodyear Tire & Rubber worth $255,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Truist Financial Corp grew its stake in shares of Goodyear Tire & Rubber by 5.2% in the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after purchasing an additional 1,115 shares during the last quarter. Barclays PLC grew its position in Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after buying an additional 598,330 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after buying an additional 86,227 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company’s stock valued at $33,648,000 after acquiring an additional 205,629 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Goodyear Tire & Rubber by 28.1% during the 3rd quarter. FMR LLC now owns 842,822 shares of the company’s stock worth $7,459,000 after acquiring an additional 184,770 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a “buy” rating and a $14.00 target price for the company. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.78.

Goodyear Tire & Rubber Stock Performance

GT stock opened at $9.70 on Friday. The stock has a market cap of $2.77 billion, a P/E ratio of 40.42 and a beta of 1.49. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm has a 50 day simple moving average of $9.20 and a 200 day simple moving average of $9.10. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.48.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. Research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal 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.