The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by UBS Group AG

UBS Group AG boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GTGet Rating) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,075,796 shares of the company’s stock after purchasing an additional 4,059 shares during the period. UBS Group AG owned approximately 0.38% of Goodyear Tire & Rubber worth $10,919,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fisher Asset Management LLC acquired a new position in shares of Goodyear Tire & Rubber during the third quarter worth about $28,314,000. BlackRock Inc. grew its holdings in Goodyear Tire & Rubber by 7.6% during the 1st quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock valued at $511,113,000 after purchasing an additional 2,528,942 shares in the last quarter. Prudential Financial Inc. grew its holdings in Goodyear Tire & Rubber by 589.7% during the 3rd quarter. Prudential Financial Inc. now owns 2,349,064 shares of the company’s stock valued at $23,702,000 after purchasing an additional 2,008,486 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Goodyear Tire & Rubber by 570.6% during the 3rd quarter. Renaissance Technologies LLC now owns 1,076,054 shares of the company’s stock valued at $10,857,000 after purchasing an additional 915,600 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Goodyear Tire & Rubber by 55.9% during the 1st quarter. Invesco Ltd. now owns 2,161,880 shares of the company’s stock valued at $30,894,000 after purchasing an additional 774,773 shares in the last quarter. Hedge funds and other institutional investors own 79.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GT. Deutsche Bank Aktiengesellschaft cut their target price on Goodyear Tire & Rubber from $11.00 to $9.00 and set a “hold” rating on the stock in a research report on Friday, February 10th. StockNews.com initiated coverage on shares of Goodyear Tire & Rubber in a report on Thursday, May 18th. They set a “hold” rating on the stock. Nomura lowered Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Wednesday, May 17th. Finally, BNP Paribas upgraded shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $13.00 price target on the stock in a research note on Monday, May 15th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.00.

Goodyear Tire & Rubber Trading Up 0.4 %

Shares of GT opened at $14.07 on Tuesday. The business’s 50-day moving average price is $11.26 and its 200 day moving average price is $11.10. The stock has a market capitalization of $3.99 billion, a P/E ratio of 703.85 and a beta of 1.80. The Goodyear Tire & Rubber Company has a 1-year low of $9.66 and a 1-year high of $15.69. The company has a current ratio of 1.32, a quick ratio of 0.67 and a debt-to-equity ratio of 1.51.

Goodyear Tire & Rubber (NASDAQ:GTGet Rating) last posted its quarterly earnings results on Friday, May 5th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.07). Goodyear Tire & Rubber had a return on equity of 3.44% and a net margin of 0.02%. The firm had revenue of $4.94 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. Analysts expect that The Goodyear Tire & Rubber Company will post 0.84 earnings per share for the current year.

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.

Further Reading

Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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