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

Virtu Financial LLC acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 54,531 shares of the company’s stock, valued at approximately $491,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Goodyear Tire & Rubber during the 3rd quarter valued at about $545,000. Intech Investment Management LLC boosted its position in shares of Goodyear Tire & Rubber by 190.4% during 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 period. Charles Schwab Investment Management Inc. boosted its position in shares of Goodyear Tire & Rubber by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock worth $31,267,000 after buying an additional 252,960 shares during the period. Citigroup Inc. grew its holdings in Goodyear Tire & Rubber by 66.7% in the 3rd quarter. Citigroup Inc. now owns 491,990 shares of the company’s stock worth $4,354,000 after buying an additional 196,788 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $122,000. 84.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. TD Cowen initiated coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 price target for the company. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, February 18th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $9.34 on Wednesday. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 38.92 and a beta of 1.71. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.86. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average of $9.21 and a two-hundred day moving average of $9.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $4.91 billion. As a group, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.