BlackRock Fund Advisors has recently announced that it has increased stake in Goodyear Tire & Rubber Co. (NASDAQ:GT) by 0.33%. After grabbing 29.84 million shares, the institutional investor is now in possession of 98149.0 shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 10.52% having worth around $427.28 million. Moreover, The Vanguard Group, Inc. increased its share by 0.11 million to have a control over 27.97 million shares. And Dimensional Fund Advisors LP raised its holdings to 0.44 million shares by acquiring 15.94 million shares or 5.62% of the stake.
Goodyear Tire & Rubber Co. (GT) concluded trading on Wednesday at a closing price of $13.99, with 4.56 million shares of worth about $63.79 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -9.68% during that period and On Wednesday, January 24 the price saw a loss of about -0.29%. Currently the company’s common shares owned by public are about 282.90M shares, out of which, 281.96M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 38 times over the past 12 months. They bought 614,263 shares in 19 of the transactions. In 19 selling transactions, insiders dumped 224,919 shares.
Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Goodyear Tire & Rubber Co. Vanguard Total Stock Market ETF is currently holding 8.88 million shares of worth totaling $127.23 million. The company recently came buying 8863.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. iShares Core S&P Mid Cap ETF bought 7790.0 shares, after which its hold over company’s outstanding shares expand to 3.04%, leaving 8.62 million shares with the mutual fund that have a worth of about $123.37 million. iShares Russell 2000 ETF, after selling 7.57 million shares, have now control over 2.67% of the stake in the company. It holds 20034.0 shares of worth $108.39 million.
However, the stock later moved at a day high price of 14.20, or with a loss of -0.29%. Stock saw a price change of 0.79% in past 5 days and over the past one month there was a price change of -4.77%. Year-to-date (YTD), GT shares are showing a performance of -2.30% which increased to 20.81% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.85 but also hit the highest price of $16.50 during that period. The average intraday trading volume for Goodyear Tire & Rubber Co. shares is 3.56 million. The stock is currently trading 0.84% above its 20-day simple moving average (SMA20), while that difference is up 0.01% for SMA50 and it goes to 5.96% higher than SMA200.
BlackRock Fund Advisors acquired 29.84 million shares of Goodyear Tire & Rubber Co. having value of about $427.28 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 98149.0 shares in the company valued at close to $1373104.51, or have control over 0.33% stake in the company. Goodyear Tire & Rubber Co. (NASDAQ: GT) currently have 282.90M outstanding shares and institutions hold larger chunk of about 84.55% of that. Holding of mutual funds in the company is about 42.04% while other institutional holders and individual stake holders have control over 42.96% and 1.24% of the stake respectively.
The stock has a current market capitalization of $3.97B and its 3Y-monthly beta is at 1.88. It has posted earnings per share of -$1.76 in the same period. It has Quick Ratio of 0.70 while making debt-to-equity ratio of 1.94. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GT, volatility over the week remained 3.52% while standing at 2.77% over the month.
Analysts are in expectations that Goodyear Tire & Rubber Co. (GT) stock would likely to be making an EPS of $0.36 in the current quarter, while forecast for next quarter EPS is $0.25 and it is $1.45 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.19 which is $0.61 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -91.20% while it is estimated to increase by 1169.55% in next year. EPS is likely to grow at an annualized rate of 26.30% for next 5-years, compared to annual growth of -12.38% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by HSBC Securities on December 04, 2023 offering a Buy rating for the stock and assigned a target price of $16.80 to it.
