KLCM Advisors Inc. Purchases 38,480 Shares of The Goodyear Tire & Rubber Company $GT

Key Points

• KLCM Advisors Inc. has increased its stake in The Goodyear Tire & Rubber Company, acquiring an additional 38,480 shares, bringing its total holdings to approximately 1.81 million shares, valued at $16.7 million.
• The firm represents about 2.0% of KLCM Advisors' investment portfolio, making it the advisor's 14th largest holding.
• Goodyear Tire & Rubber's stock has a current average rating of "Moderate Buy" from analysts, with a consensus price target of $12.80, despite recent earnings falling short of expectations.

KLCM Advisors Inc. grew its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,808,910 shares of the company's stock after purchasing an additional 38,480 shares during the period. Goodyear Tire & Rubber comprises about 2.0% of KLCM Advisors Inc.'s portfolio, making the stock its 14th largest position. KLCM Advisors Inc. owned approximately 0.63% of Goodyear Tire & Rubber worth $16,714,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GT. LPL Financial LLC raised its holdings in Goodyear Tire & Rubber by 1.5% in the fourth quarter. LPL Financial LLC now owns 216,766 shares of the company's stock worth $1,951,000 after purchasing an additional 3,123 shares during the period. Envestnet Asset Management Inc. acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth $157,000. Russell Investments Group Ltd. raised its holdings in Goodyear Tire & Rubber by 20.7% in the fourth quarter. Russell Investments Group Ltd. now owns 331,902 shares of the company's stock worth $2,987,000 after purchasing an additional 57,028 shares during the period. Invesco Ltd. raised its holdings in Goodyear Tire & Rubber by 13.7% in the fourth quarter. Invesco Ltd. now owns 2,261,513 shares of the company's stock worth $20,354,000 after purchasing an additional 272,771 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth $193,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GT shares. BNP Paribas lowered shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered 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. BNP Paribas Exane reissued a "neutral" rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and an average target price of $12.80.

Goodyear Tire & Rubber Stock Up 0.8%

Goodyear Tire & Rubber stock traded up $0.0650 during mid-day trading on Tuesday, reaching $8.4550. The company's stock had a trading volume of 4,181,318 shares, compared to its average volume of 6,472,657. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 5.95, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $12.03. The business's 50 day simple moving average is $10.45 and its 200 day simple moving average is $10.10. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15.

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

Goodyear Tire & Rubber Company 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.