Mitsubishi UFJ Trust & Banking Corp Reduces Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 58.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,375 shares of the company’s stock after selling 46,630 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Goodyear Tire & Rubber were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fidelity D & D Bancorp Inc. lifted its position in shares of Goodyear Tire & Rubber by 3.2% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock worth $283,000 after buying an additional 1,000 shares during the last quarter. Truist Financial Corp lifted its position in Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after acquiring an additional 1,115 shares during the last quarter. Amalgamated Bank boosted its stake in Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock valued at $1,147,000 after acquiring an additional 1,156 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Goodyear Tire & Rubber by 11.3% during the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock worth $110,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Barnett & Company Inc. increased its position in shares of Goodyear Tire & Rubber by 1.4% during the fourth quarter. Barnett & Company Inc. now owns 95,700 shares of the company’s stock worth $861,000 after purchasing an additional 1,300 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Up 2.0 %

NASDAQ:GT opened at $9.12 on Thursday. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-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. The stock’s 50 day simple moving average is $9.18 and its 200-day simple moving average is $9.08. The firm has a market cap of $2.60 billion, a P/E ratio of 38.00 and a beta of 1.49.

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

Wall Street Analysts Forecast Growth

GT has been the subject of a number of research analyst reports. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They issued a “buy” rating and a $14.00 target price for the company. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report 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 report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and an average 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.