Vanguard Group Inc. Has $416.74 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Vanguard Group Inc. grew its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,102,067 shares of the company’s stock after purchasing an additional 576,369 shares during the period. Vanguard Group Inc. owned approximately 10.25% of Goodyear Tire & Rubber worth $416,742,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GT. Dimensional Fund Advisors LP grew its position in Goodyear Tire & Rubber by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,501,327 shares of the company’s stock worth $236,302,000 after acquiring an additional 557,038 shares during the last quarter. Wellington Management Group LLP grew its position in Goodyear Tire & Rubber by 48.2% during the 4th quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock worth $214,499,000 after acquiring an additional 4,870,381 shares during the last quarter. American Century Companies Inc. grew its position in Goodyear Tire & Rubber by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock worth $59,348,000 after acquiring an additional 953,047 shares during the last quarter. Norges Bank bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth $66,842,000. Finally, Goldman Sachs Group Inc. grew its position in Goodyear Tire & Rubber by 9.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,180,322 shares of the company’s stock worth $59,862,000 after acquiring an additional 353,758 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GT. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. Morgan Stanley began coverage on Goodyear Tire & Rubber in a report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 target price on the stock. Finally, HSBC cut their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Price Performance

GT stock opened at $11.07 on Thursday. The stock’s 50 day simple moving average is $12.10 and its 200 day simple moving average is $12.88. The Goodyear Tire & Rubber Company has a fifty-two week low of $10.92 and a fifty-two week high of $16.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.60 and a current ratio of 1.15. The company has a market cap of $3.15 billion, a P/E ratio of -4.90 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.10 EPS for the quarter. The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.29) EPS. On average, research analysts expect that The Goodyear Tire & Rubber Company will post 1.21 earnings per share for the current fiscal year.

About Goodyear Tire & Rubber

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.