Virtu Financial LLC Takes $491,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Virtu Financial LLC acquired a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 54,531 shares of the company’s stock, valued at approximately $491,000.

Other hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter worth about $545,000. Intech Investment Management LLC lifted its stake in shares of Goodyear Tire & Rubber by 190.4% in the third quarter. Intech Investment Management LLC now owns 108,621 shares of the company’s stock worth $961,000 after buying an additional 71,217 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Goodyear Tire & Rubber by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock worth $31,267,000 after acquiring an additional 252,960 shares during the last quarter. Citigroup Inc. lifted its position in shares of Goodyear Tire & Rubber by 66.7% during the 3rd quarter. Citigroup Inc. now owns 491,990 shares of the company’s stock worth $4,354,000 after purchasing an additional 196,788 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Goodyear Tire & Rubber during the 3rd quarter valued at approximately $122,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 1.3 %

Shares of GT stock opened at $9.34 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The stock has a fifty day moving average price of $9.21 and a 200 day moving average price of $9.03. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.86. The stock has a market cap of $2.66 billion, a P/E ratio of 38.92 and a beta of 1.71.

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

Analysts Set New Price Targets

GT has been the subject of a number of research analyst reports. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. 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. Finally, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average price target of $13.18.

Goodyear Tire & Rubber 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.