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

Wilmington Savings Fund Society FSB bought a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,111 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors have also bought and sold shares of GT. Victory Capital Management Inc. increased its stake in Goodyear Tire & Rubber by 3,921.7% in the 3rd quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after buying an additional 4,633,368 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Goodyear Tire & Rubber by 91.5% in the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock valued at $28,203,000 after acquiring an additional 1,211,519 shares in the last quarter. American Century Companies Inc. increased its position in shares of Goodyear Tire & Rubber by 16.2% during the second 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 during the last quarter. Point72 Asset Management L.P. bought a new stake in Goodyear Tire & Rubber during the second quarter worth $8,492,000. Finally, Bank of Montreal Can boosted its position in Goodyear Tire & Rubber by 323.6% in 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 during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Up 0.3 %

Shares of GT opened at $8.62 on Monday. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $14.97. The business has a 50-day moving average of $9.32 and a 200 day moving average of $9.61. The firm has a market cap of $2.46 billion, a P/E 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.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its 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. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company’s revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. As a group, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report 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 reiterated a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.