The Goodyear Tire & Rubber Company (NASDAQ:GT) Position Decreased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,427,227 shares of the company’s stock after selling 149,856 shares during the period. Ameriprise Financial Inc. owned about 0.50% of Goodyear Tire & Rubber worth $12,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GT. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $39,626,000. Capula Management Ltd purchased a new stake in Goodyear Tire & Rubber during the fourth quarter valued at about $330,000. Truist Financial Corp lifted its stake in Goodyear Tire & Rubber by 5.2% during the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after buying an additional 1,115 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Goodyear Tire & Rubber by 65.9% in the fourth quarter. Franklin Resources Inc. now owns 224,124 shares of the company’s stock worth $2,017,000 after buying an additional 88,993 shares during the period. Finally, Barclays PLC increased its position in shares of Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after acquiring an additional 598,330 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Down 2.4%

Goodyear Tire & Rubber stock opened at $10.77 on Monday. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.97. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm has a market cap of $3.08 billion, a PE ratio of 44.88 and a beta of 1.42. The firm’s 50 day moving average price is $9.93 and its two-hundred day moving average price is $9.54.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the business posted $0.10 earnings per share. Goodyear Tire & Rubber’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on GT. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Monday, March 31st. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, February 18th. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. Finally, TD Cowen assumed coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.25.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.