Wilmington Savings Fund Society FSB Takes $45,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Wilmington Savings Fund Society FSB bought a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,111 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock worth $42,051,000 after purchasing an additional 4,633,368 shares during the period. AQR Capital Management LLC increased its stake in Goodyear Tire & Rubber by 91.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock worth $28,203,000 after acquiring an additional 1,211,519 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Goodyear Tire & Rubber by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after acquiring an additional 1,013,550 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter valued at about $8,492,000. Finally, Bank of Montreal Can grew its holdings in shares of Goodyear Tire & Rubber by 323.6% during the second quarter. Bank of Montreal Can now owns 976,078 shares of the company’s stock worth $11,108,000 after purchasing an additional 745,636 shares in the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Up 0.3 %

GT stock opened at $8.62 on Monday. The company has a market capitalization of $2.46 billion, a PE ratio of -8.29 and a beta of 1.77. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $14.97. The company’s 50 day moving average price is $9.32 and its two-hundred day moving average price is $9.61.

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 the consensus estimate 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 business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts predict that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GT shares. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.30.

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.