Bessemer Group Inc. Has $32,000 Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Bessemer Group Inc. trimmed its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 42.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,538 shares of the company’s stock after selling 2,584 shares during the period. Bessemer Group Inc.’s holdings in Goodyear Tire & Rubber were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $39,626,000. American Century Companies Inc. increased its holdings in Goodyear Tire & Rubber by 10.3% in the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company’s stock worth $86,871,000 after purchasing an additional 897,463 shares in the last quarter. KLCM Advisors Inc. boosted its position in Goodyear Tire & Rubber by 59.4% during the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock worth $15,934,000 after buying an additional 659,635 shares during the period. Barclays PLC lifted its holdings in shares of Goodyear Tire & Rubber by 158.6% during the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after purchasing an additional 598,330 shares during the period. Finally, Cibc World Market Inc. grew its position in shares of Goodyear Tire & Rubber by 72.1% in the 4th quarter. Cibc World Market Inc. now owns 1,408,001 shares of the company’s stock valued at $12,672,000 after buying an additional 589,782 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GT shares. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Monday, March 31st. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 price target on the stock. Finally, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.78.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $9.75 on Friday. The company has a market capitalization of $2.78 billion, a P/E ratio of 40.63 and a beta of 1.49. The company’s 50-day moving average is $9.35 and its 200 day moving average is $9.18. 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 Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT) last released its 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 net margin of 0.37% and a return on equity of 6.21%. The firm had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current 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.