PNC Financial Services Group Inc. Has $206,000 Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

PNC Financial Services Group Inc. boosted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,927 shares of the company’s stock after purchasing an additional 1,926 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Goodyear Tire & Rubber were worth $206,000 at the end of the most recent quarter.

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

Goodyear Tire & Rubber Stock Down 1.8 %

GT opened at $9.14 on Monday. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.86. The firm has a market capitalization of $2.61 billion, a P/E ratio of 38.08 and a beta of 1.71. The company’s 50-day moving average is $9.19 and its 200 day moving average is $9.01. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. Research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on GT. TD Cowen initiated coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a “buy” rating and a $14.00 price target for the company. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.18.

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.