First Trust Advisors LP Increases Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

First Trust Advisors LP increased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Rating) by 26.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 721,636 shares of the company’s stock after buying an additional 149,209 shares during the quarter. First Trust Advisors LP’s holdings in Goodyear Tire & Rubber were worth $7,281,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Goodyear Tire & Rubber by 94.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,395 shares of the company’s stock worth $491,000 after purchasing an additional 16,701 shares during the period. US Bancorp DE increased its stake in Goodyear Tire & Rubber by 10.3% during the 1st quarter. US Bancorp DE now owns 15,225 shares of the company’s stock valued at $217,000 after buying an additional 1,418 shares during the period. Citigroup Inc. increased its stake in Goodyear Tire & Rubber by 14.2% during the 1st quarter. Citigroup Inc. now owns 259,007 shares of the company’s stock valued at $3,702,000 after buying an additional 32,111 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Goodyear Tire & Rubber by 35.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 33,421 shares of the company’s stock valued at $479,000 after purchasing an additional 8,670 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Goodyear Tire & Rubber by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 102,976 shares of the company’s stock valued at $1,472,000 after purchasing an additional 9,818 shares in the last quarter. 79.34% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $10.30 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.21 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $2.92 billion, a PE ratio of 14.71 and a beta of 1.81. The company has a 50 day moving average price of $11.31 and a two-hundred day moving average price of $11.44. The Goodyear Tire & Rubber Company has a 12-month low of $9.66 and a 12-month high of $15.69.

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.10). Goodyear Tire & Rubber had a return on equity of 6.96% and a net margin of 0.97%. The firm had revenue of $5.37 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Goodyear Tire & Rubber’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post 0.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on GT. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Goodyear Tire & Rubber from $11.00 to $9.00 and set a “hold” rating for the company in a report on Friday, February 10th. BNP Paribas downgraded shares of Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating in a research report on Monday, January 30th. Finally, Argus downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, November 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.43.

Goodyear Tire & Rubber Profile

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Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.