LPL Financial LLC increased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,225 shares of the company’s stock after buying an additional 7,695 shares during the quarter. LPL Financial LLC owned 0.08% of Goodyear Tire & Rubber worth $3,013,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ancora Advisors LLC boosted its holdings in shares of Goodyear Tire & Rubber by 71.4% in the first quarter. Ancora Advisors LLC now owns 2,400 shares of the company’s stock worth $26,000 after buying an additional 1,000 shares during the last quarter. First Manhattan Co. purchased a new position in Goodyear Tire & Rubber during the fourth quarter valued at approximately $31,000. Ameritas Advisory Services LLC purchased a new position in Goodyear Tire & Rubber during the first quarter valued at approximately $36,000. Fifth Third Bancorp lifted its holdings in Goodyear Tire & Rubber by 49.0% during the second quarter. Fifth Third Bancorp now owns 3,006 shares of the company’s stock valued at $41,000 after purchasing an additional 989 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC purchased a new position in Goodyear Tire & Rubber during the first quarter valued at approximately $44,000. Hedge funds and other institutional investors own 80.05% of the company’s stock.
Analyst Upgrades and Downgrades
GT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Goodyear Tire & Rubber from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, July 20th. StockNews.com started coverage on shares of Goodyear Tire & Rubber in a report on Thursday, October 5th. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Hold” and an average target price of $15.00.
Goodyear Tire & Rubber Trading Up 3.0 %
Goodyear Tire & Rubber stock opened at $12.88 on Wednesday. The stock has a market cap of $3.65 billion, a P/E ratio of -9.98 and a beta of 1.81. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.28 and a quick ratio of 0.65. The Goodyear Tire & Rubber Company has a 1 year low of $9.66 and a 1 year high of $16.50. The firm’s 50 day moving average price is $12.42 and its 200-day moving average price is $13.13.
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last released its quarterly earnings data on Monday, November 6th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.17. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Goodyear Tire & Rubber had a negative net margin of 1.80% and a negative return on equity of 0.80%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. On average, equities analysts predict that The Goodyear Tire & Rubber Company will post -0.08 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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.
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