Bridgefront Capital LLC Takes $344,000 Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Bridgefront Capital LLC purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 38,269 shares of the company's stock, valued at approximately $344,000.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $39,626,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $16,875,000. Atlantic Investment Management Inc. acquired a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $11,803,000. American Century Companies Inc. increased its holdings in shares of Goodyear Tire & Rubber by 10.3% during the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock valued at $86,871,000 after acquiring an additional 897,463 shares during the last quarter. Finally, KLCM Advisors Inc. increased its holdings in shares of Goodyear Tire & Rubber by 59.4% during the 4th quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company's stock valued at $15,934,000 after acquiring an additional 659,635 shares during the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Up 0.8%

NASDAQ:GT traded up $0.09 during trading hours on Monday, hitting $10.95. 6,231,401 shares of the company were exchanged, compared to its average volume of 5,189,858. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 45.77 and a beta of 1.42. 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 Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.26. The company has a fifty day simple moving average of $9.76 and a 200 day simple moving average of $9.44.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GT shares. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a report on Tuesday, February 18th. StockNews.com cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research note on Monday, March 31st. Finally, TD Cowen assumed coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.25.

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.