Charles Schwab Investment Management Inc. Has $35.12 Million Position in The Goodyear Tire & Rubber Company $GT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in The Goodyear Tire & Rubber Company by 1.7%, now owning 3,801,118 shares valued at $35.12 million.
• Goodyear's stock has declined 1.2%, with a current price of $8.39, significantly below analysts' expectations for earnings and revenue in the recent quarter.
• Analysts have mixed opinions on Goodyear, with ratings ranging from "buy" to "hold," but the average price target stands at $12.80.

Charles Schwab Investment Management Inc. boosted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,801,118 shares of the company's stock after purchasing an additional 62,499 shares during the period. Charles Schwab Investment Management Inc. owned about 1.33% of Goodyear Tire & Rubber worth $35,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in Goodyear Tire & Rubber by 1.9% in the first quarter. Victory Capital Management Inc. now owns 5,247,677 shares of the company's stock valued at $48,489,000 after purchasing an additional 99,933 shares in the last quarter. Northern Trust Corp grew its position in Goodyear Tire & Rubber by 17.0% in the fourth quarter. Northern Trust Corp now owns 3,941,378 shares of the company's stock valued at $35,472,000 after purchasing an additional 573,541 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at $16,875,000. Atlantic Investment Management Inc. bought a new position in Goodyear Tire & Rubber in the fourth quarter valued at $11,803,000. Finally, Allianz Asset Management GmbH grew its position in Goodyear Tire & Rubber by 6.7% in the first quarter. Allianz Asset Management GmbH now owns 896,545 shares of the company's stock valued at $8,284,000 after purchasing an additional 56,665 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock traded up $0.40 during midday trading on Friday, hitting $8.65. 9,535,911 shares of the company were exchanged, compared to its average volume of 9,518,539. The firm has a market capitalization of $2.47 billion, a P/E ratio of 6.09, a PEG ratio of 0.76 and a beta of 1.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The firm's 50 day moving average price is $10.21 and its two-hundred day moving average price is $10.09. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the firm posted $0.19 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GT shares. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Hsbc Global Res downgraded shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Finally, HSBC reissued a "hold" rating and issued a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $12.25.

About Goodyear Tire & Rubber

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.