The Goodyear Tire & Rubber Company (NASDAQ:GT) Stake Raised by CastleKnight Management LP

CastleKnight Management LP lifted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 268,300 shares of the company's stock after purchasing an additional 51,400 shares during the period. CastleKnight Management LP owned about 0.09% of Goodyear Tire & Rubber worth $2,415,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com downgraded 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 target on the stock in a research note on Monday, March 31st. Argus raised 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. Finally, TD Cowen started coverage on shares of 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 investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $13.25.

Goodyear Tire & Rubber Stock Down 0.7 %

Shares of GT stock traded down $0.08 during mid-day trading on Friday, reaching $10.86. 7,698,224 shares of the company were exchanged, compared to its average volume of 5,181,497. The company has a market capitalization of $3.10 billion, a P/E ratio of 45.25 and a beta of 1.42. 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. The business's 50 day simple moving average is $9.76 and its 200 day simple moving average is $9.44.

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

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.