Swiss National Bank Sells 23,700 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Swiss National Bank trimmed its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,958 shares of the company’s stock after selling 23,700 shares during the period. Swiss National Bank’s holdings in Goodyear Tire & Rubber were worth $4,788,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on GT. TD Cowen began coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, February 18th. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Stock Performance

NASDAQ:GT opened at $9.46 on Tuesday. The stock’s 50-day moving average is $9.20 and its 200-day moving average is $9.02. The stock has a market cap of $2.70 billion, a P/E ratio of 39.42 and a beta of 1.71. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year 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.

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

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.