Charles Schwab Investment Management Inc. Acquires 205,629 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Charles Schwab Investment Management Inc. raised its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,738,619 shares of the company’s stock after acquiring an additional 205,629 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Goodyear Tire & Rubber were worth $33,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Allworth Financial LP lifted its stake in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after buying an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Goodyear Tire & Rubber during the 3rd quarter worth $45,000. Newbridge Financial Services Group Inc. bought a new stake in Goodyear Tire & Rubber during the fourth quarter valued at about $54,000. Private Trust Co. NA grew its position in shares of 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 purchasing an additional 3,700 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $79,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GT. TD Cowen started coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set 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 objective on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $9.15 on Monday. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.86. 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 business has a fifty day simple moving average of $9.15 and a 200 day simple moving average of $8.99. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 38.13 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data 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 analysts’ expectations of $4.91 billion. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current 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.