Russell Investments Group Ltd. Sells 126,525 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Russell Investments Group Ltd. reduced its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 15.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,897 shares of the company’s stock after selling 126,525 shares during the quarter. Russell Investments Group Ltd. owned about 0.24% of Goodyear Tire & Rubber worth $9,608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP acquired a new position in Goodyear Tire & Rubber in the third quarter valued at about $125,650,000. Assenagon Asset Management S.A. raised its position in shares of Goodyear Tire & Rubber by 880.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock valued at $8,178,000 after acquiring an additional 512,875 shares during the period. Aigen Investment Management LP bought a new position in Goodyear Tire & Rubber during the 3rd quarter worth approximately $207,000. American Century Companies Inc. grew its holdings in Goodyear Tire & Rubber by 24.9% during the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock valued at $59,348,000 after purchasing an additional 953,047 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Goodyear Tire & Rubber by 14.4% during the third quarter. Deutsche Bank AG now owns 135,940 shares of the company’s stock worth $1,690,000 after purchasing an additional 17,093 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

GT stock opened at $12.41 on Tuesday. The company’s 50-day moving average price is $12.50 and its two-hundred day moving average price is $13.16. The firm has a market cap of $3.52 billion, a P/E ratio of -5.15 and a beta of 1.86. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41. The Goodyear Tire & Rubber Company has a 12 month low of $10.94 and a 12 month high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm posted ($0.29) earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.16.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.