Northern Trust Corp Purchases 573,541 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Northern Trust Corp grew its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 17.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,941,378 shares of the company’s stock after buying an additional 573,541 shares during the quarter. Northern Trust Corp’s holdings in Goodyear Tire & Rubber were worth $35,472,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Goodyear Tire & Rubber by 251.8% in the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock valued at $40,000 after purchasing an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth $45,000. Signaturefd LLC increased its stake in shares of Goodyear Tire & Rubber by 61.2% during the fourth quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after buying an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $54,000. Finally, Transce3nd LLC bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $61,000. 84.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. StockNews.com cut shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday. TD Cowen began coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective on the stock. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Monday, March 31st. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.25.

Goodyear Tire & Rubber Stock Down 0.7 %

Goodyear Tire & Rubber stock opened at $10.86 on Friday. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. The company has a market cap of $3.10 billion, a PE ratio of 45.25 and a beta of 1.42. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The business’s 50-day simple moving average is $9.76 and its two-hundred day simple moving average is $9.43.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

About Goodyear Tire & Rubber

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.