Rhumbline Advisers Acquires 12,359 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Rhumbline Advisers grew its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 975,955 shares of the company’s stock after acquiring an additional 12,359 shares during the period. Rhumbline Advisers’ holdings in Goodyear Tire & Rubber were worth $8,784,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in Goodyear Tire & Rubber by 3,921.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after buying an additional 4,633,368 shares during the last quarter. Barclays PLC grew its stake in shares of Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after acquiring an additional 598,330 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of Goodyear Tire & Rubber by 72.1% in the fourth quarter. Cibc World Market Inc. now owns 1,408,001 shares of the company’s stock valued at $12,672,000 after purchasing an additional 589,782 shares during the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Goodyear Tire & Rubber by 13.4% during the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after purchasing an additional 484,198 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Goodyear Tire & Rubber by 221.0% during the third quarter. BNP Paribas Financial Markets now owns 678,452 shares of the company’s stock worth $6,004,000 after purchasing an additional 467,107 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Trading Down 1.9 %

Shares of GT stock opened at $9.79 on Tuesday. The company has a 50 day moving average of $9.04 and a 200-day moving average of $8.92. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.86. The firm has a market cap of $2.79 billion, a P/E ratio of 40.79 and a beta of 1.79. The company has a quick ratio of 0.55, a current ratio of 1.04 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, topping analysts’ consensus estimates of $0.29 by $0.10. The business had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GT has been the topic of several recent analyst reports. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Finally, Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.98.

About Goodyear Tire & Rubber

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.