Comerica Bank holds $3.24 million worth of shares in The Goodyear Tire & Rubber Company (NASDAQ:GT)
Comerica Bank increased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ: GT – Get a rating) by 65.4% in the first quarter, according to the company in its latest filing with the SEC. The company held 231,857 shares of the company after acquiring an additional 91,706 shares during the quarter. Comerica Bank’s holdings in Goodyear Tire & Rubber were worth $3,241,000 when it last filed with the SEC.
A number of other institutional investors have also recently changed their GT holdings. National Bank of Canada FI purchased a new equity stake in Goodyear Tire & Rubber during the 4th quarter at a value of $234,000. The New York State Teachers’ Retirement System increased its position in shares of Goodyear Tire & Rubber by 10.8% during the 4th quarter. The New York State Teachers’ Retirement System now owns 331,001 shares of the company valued at $7,057,000 after acquiring an additional 32,163 shares during the period. Columbia Advisory Partners LLC purchased a new stake in shares of Goodyear Tire & Rubber during Q4 valued at $273,000. Signaturefd LLC increased its position in Goodyear Tire & Rubber shares by 97.5% during the 4th quarter. Signaturefd LLC now owns 6,228 shares of the company worth $133,000 after purchasing an additional 3,075 shares in the last quarter. Finally, Foundry Partners LLC purchased a new equity stake in Goodyear Tire & Rubber during Q4 for a value of $5,721,000. 86.06% of the shares are currently held by institutional investors.
Wall Street analysts predict growth
Several analysts have weighed in on the company recently. Deutsche Bank Aktiengesellschaft downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating and lowered its price target for the stock from $19.00 to $15.00 in a research report Monday . Citigroup lowered its price target on Goodyear Tire & Rubber from $19.00 to $15.00 in a Monday, May 16 research report. TheStreet downgraded Goodyear Tire & Rubber from a “b-” rating to a “c” rating in a Wednesday, May 18 research report. Nomura downgraded Goodyear Tire & Rubber from a “neutral” to a “buy” rating and raised its price target for the stock from $15.00 to $15.30 in a Tuesday 10 research report. may. To finish, StockNews.com downgraded Goodyear Tire & Rubber from a “buy” to a “hold” rating in a research report on Wednesday. Seven investment analysts gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.19.
Goodyear Tire and Rubber Price Performance
Goodyear tire and rubber stock opened at $11.93 on Thursday. The company has a current ratio of 1.23, a quick ratio of 0.65 and a debt ratio of 1.40. The company has a market capitalization of $3.37 billion, a PE ratio of 3.99 and a beta of 1.88. The Goodyear Tire & Rubber Company has a 12-month low of $10.33 and a 12-month high of $24.89. The stock has a 50-day moving average price of $11.70 and a 200-day moving average price of $14.74.
Goodyear tire and rubber (NASDAQ: GT – Get a rating) last released its quarterly results on Friday, May 6. The company reported earnings per share of $0.37 for the quarter, beating the consensus estimate of $0.18 by $0.19. The company posted revenue of $4.91 billion in the quarter, compared to $4.70 billion expected by analysts. Goodyear Tire & Rubber achieved a return on equity of 11.37% and a net margin of 4.49%. The company’s quarterly revenue increased 39.8% year over year. In the same quarter a year earlier, the company posted earnings per share of $0.43. Analysts expect The Goodyear Tire & Rubber Company to post EPS of 2.19 for the current 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 tires for automobiles, trucks, buses, aircraft, motorcycles, earth-moving machinery and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster and various other house brands. . , as well as under own brands.
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