Gamco Investors INC. ET AL Lowers Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Gamco Investors INC. ET AL reduced its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,900 shares of the company’s stock after selling 5,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Goodyear Tire & Rubber were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC bought a new position in Goodyear Tire & Rubber during the third quarter valued at $253,000. Barclays PLC raised its stake in shares of Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after acquiring an additional 598,330 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after acquiring an additional 86,227 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth about $45,000. Finally, Franklin Resources Inc. grew its holdings in Goodyear Tire & Rubber by 11.0% during the 3rd quarter. Franklin Resources Inc. now owns 135,131 shares of the company’s stock valued at $1,139,000 after purchasing an additional 13,349 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $9.75 on Friday. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.26. The stock’s fifty day moving average price is $9.35 and its 200-day moving average price is $9.18. The firm has a market cap of $2.78 billion, a P/E ratio of 40.63 and a beta of 1.49. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

GT has been the subject of several recent analyst reports. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Monday, March 31st. TD Cowen started coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 target price for the company. 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 research 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 company. Based on data from MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and an average target price of $13.78.

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.