Wells Fargo & Company MN Grows Stake in Goodyear Tire and Rubber (NASDAQ:GT)

Wells Fargo & Company MN raised its stake in Goodyear Tire and Rubber (NASDAQ:GT) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 454,248 shares of the company’s stock after buying an additional 3,267 shares during the quarter. Wells Fargo & Company MN owned approximately 0.18% of Goodyear Tire and Rubber worth $14,676,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. LSV Asset Management raised its stake in shares of Goodyear Tire and Rubber by 0.4% during the fourth quarter. LSV Asset Management now owns 10,690,364 shares of the company’s stock valued at $345,405,000 after purchasing an additional 47,711 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Goodyear Tire and Rubber by 3.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,015,995 shares of the company’s stock worth $233,282,000 after acquiring an additional 259,100 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Goodyear Tire and Rubber by 10.0% in the third quarter. Dimensional Fund Advisors LP now owns 4,568,674 shares of the company’s stock worth $151,903,000 after acquiring an additional 414,651 shares in the last quarter. Sound Shore Management Inc. CT raised its position in Goodyear Tire and Rubber by 38.7% in the third quarter. Sound Shore Management Inc. CT now owns 4,023,929 shares of the company’s stock worth $133,796,000 after acquiring an additional 1,123,573 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in Goodyear Tire and Rubber by 10.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,956,172 shares of the company’s stock worth $63,204,000 after acquiring an additional 187,399 shares in the last quarter. Institutional investors own 95.05% of the company’s stock.

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Several equities research analysts have commented on GT shares. Zacks Investment Research upgraded shares of Goodyear Tire and Rubber from a “sell” rating to a “hold” rating in a research report on Tuesday, January 9th. BidaskClub raised Goodyear Tire and Rubber from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Longbow Research assumed coverage on Goodyear Tire and Rubber in a research note on Wednesday, January 31st. They set a “neutral” rating on the stock. Guggenheim set a $32.00 target price on Goodyear Tire and Rubber and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, TheStreet cut Goodyear Tire and Rubber from a “b” rating to a “c+” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Goodyear Tire and Rubber currently has an average rating of “Hold” and an average target price of $36.30.

GT opened at $26.81 on Friday. Goodyear Tire and Rubber has a twelve month low of $25.88 and a twelve month high of $36.74. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.21 and a quick ratio of 0.66. The company has a market capitalization of $6,553.05, a P/E ratio of 8.59, a P/E/G ratio of 0.62 and a beta of 1.79.

Goodyear Tire and Rubber (NASDAQ:GT) last posted its earnings results on Thursday, February 8th. The company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.23. Goodyear Tire and Rubber had a return on equity of 15.70% and a net margin of 2.25%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same period in the previous year, the company earned $0.95 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts expect that Goodyear Tire and Rubber will post 3.57 earnings per share for the current year.

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About Goodyear Tire and Rubber

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, aircrafts, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and various other applications under the Goodyear, Dunlop, Kelly, Debica, Sava, Fulda, and various other Goodyear owned house brands, as well as under the private-label brands.

Institutional Ownership by Quarter for Goodyear Tire and Rubber (NASDAQ:GT)

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