PNC Financial Services Group Inc. Boosts Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

PNC Financial Services Group Inc. boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 22,927 shares of the company’s stock after purchasing an additional 1,926 shares during the period. PNC Financial Services Group Inc.’s holdings in Goodyear Tire & Rubber were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Fidelity D & D Bancorp Inc. lifted its stake in shares of Goodyear Tire & Rubber by 3.2% during the 3rd quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock valued at $283,000 after buying an additional 1,000 shares in the last quarter. Truist Financial Corp raised its holdings in Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after acquiring an additional 1,115 shares during the period. Amalgamated Bank lifted its position in shares of Goodyear Tire & Rubber by 0.9% during the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock worth $1,147,000 after acquiring an additional 1,156 shares in the last quarter. Sanctuary Advisors LLC boosted its holdings in shares of Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock worth $110,000 after acquiring an additional 1,209 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Goodyear Tire & Rubber by 4.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company’s stock valued at $306,000 after purchasing an additional 1,434 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $9.14 on Monday. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.86. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The company has a market cap of $2.61 billion, a PE ratio of 38.08 and a beta of 1.71. The stock has a 50-day moving average price of $9.19 and a 200-day moving average price of $9.01.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a “buy” rating and a $14.00 price target on the stock. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Tuesday, February 18th. Finally, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber 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.