Franklin Resources Inc. Grows Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Franklin Resources Inc. lifted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 11.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,131 shares of the company’s stock after buying an additional 13,349 shares during the quarter. Franklin Resources Inc.’s holdings in Goodyear Tire & Rubber were worth $1,139,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Geode Capital Management LLC boosted its position in Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after buying an additional 86,227 shares during the period. M&T Bank Corp acquired a new position in shares of Goodyear Tire & Rubber in the third quarter worth $393,000. Barclays PLC increased its position in shares of Goodyear Tire & Rubber by 158.6% during 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 during the period. Finally, MML Investors Services LLC raised its stake in shares of Goodyear Tire & Rubber by 75.1% in the third quarter. MML Investors Services LLC now owns 381,539 shares of the company’s stock valued at $3,377,000 after acquiring an additional 163,693 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on GT shares. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Finally, Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Hold” and an average target price of $13.30.

Goodyear Tire & Rubber Stock Down 0.6 %

Shares of NASDAQ GT opened at $8.85 on Friday. The business has a 50-day moving average of $9.36 and a two-hundred day moving average of $9.51. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of -8.51 and a beta of 1.77. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $14.97. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data 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 quarter in the previous year, the firm earned $0.36 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. On average, analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.