Geode Capital Management LLC Sells 49,374 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Geode Capital Management LLC reduced its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 7,004,455 shares of the company’s stock after selling 49,374 shares during the quarter. Geode Capital Management LLC’s holdings in Goodyear Tire & Rubber were worth $63,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at approximately $39,626,000. American Century Companies Inc. grew its position in Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock valued at $86,871,000 after acquiring an additional 897,463 shares during the period. KLCM Advisors Inc. raised its stake in Goodyear Tire & Rubber by 59.4% during the fourth quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock worth $15,934,000 after acquiring an additional 659,635 shares in the last quarter. Barclays PLC lifted its holdings in shares of Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after acquiring an additional 598,330 shares during the period. Finally, Cibc World Market Inc. boosted its stake in shares of Goodyear Tire & Rubber by 72.1% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $9.67 on Friday. The firm has a 50 day simple moving average of $9.23 and a 200 day simple moving average of $9.15. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm has a market cap of $2.76 billion, a P/E ratio of 40.29 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share 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 return on equity of 6.21% and a net margin of 0.37%. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

GT has been the subject of several analyst reports. Argus raised 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 report on Tuesday, February 18th. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 target price for the company. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Goodyear Tire & Rubber presently has an average 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.