The Goodyear Tire & Rubber Company (NASDAQ:GT) Stake Boosted by US Bancorp DE

US Bancorp DE increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 20.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 18,281 shares of the company’s stock after buying an additional 3,163 shares during the quarter. US Bancorp DE’s holdings in Goodyear Tire & Rubber were worth $162,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at $26,000. Mather Group LLC. increased its holdings in shares of Goodyear Tire & Rubber by 4,526.3% during the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after acquiring an additional 2,580 shares during the last quarter. Sound Income Strategies LLC raised its stake in shares of Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after acquiring an additional 3,778 shares in the last quarter. Beach Investment Counsel Inc. PA acquired a new stake in Goodyear Tire & Rubber in the 2nd quarter worth approximately $40,000. Finally, MUFG Securities EMEA plc acquired a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $57,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 1.7 %

Shares of GT opened at $9.33 on Friday. The stock’s 50-day moving average price is $8.47 and its 200 day moving average price is $10.10. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -8.97 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same quarter in the previous year, the company earned $0.36 earnings per share. The business’s revenue was down 6.2% compared to the same quarter last year. As a group, research analysts predict that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current year.

Analysts Set New Price Targets

GT has been the subject of several recent analyst reports. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber 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.