Kovitz Investment Group Partners LLC Takes Position in The Goodyear Tire & Rubber Company $GT

Key Points

• Kovitz Investment Group Partners LLC has acquired approximately 398,453 shares of The Goodyear Tire & Rubber Company, valued at about $3.68 million, representing 0.14% of the company.
• Goodyear's stock recently traded down 2.5% to $8.29, with a market cap of $2.37 billion and mixed analyst ratings from various financial institutions.
• The company reported earnings per share of ($0.17), missing estimates, with revenue of $4.47 billion, marking a 2.3% year-over-year decline.

Kovitz Investment Group Partners LLC acquired a new position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 398,453 shares of the company's stock, valued at approximately $3,682,000. Kovitz Investment Group Partners LLC owned approximately 0.14% of Goodyear Tire & Rubber as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock worth $26,000 after buying an additional 1,674 shares during the last quarter. UMB Bank n.a. grew its stake in Goodyear Tire & Rubber by 125.9% during the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock worth $29,000 after buying an additional 1,748 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Goodyear Tire & Rubber during the 1st quarter worth approximately $33,000. Farther Finance Advisors LLC grew its stake in Goodyear Tire & Rubber by 1,799.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after buying an additional 3,868 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Goodyear Tire & Rubber during the 4th quarter worth approximately $46,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock traded up $0.40 during mid-day trading on Friday, reaching $8.65. 9,535,911 shares of the company were exchanged, compared to its average volume of 9,518,539. 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 simple moving average is $10.21 and its two-hundred day simple moving average is $10.09. The firm has a market cap of $2.47 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 0.76 and a beta of 1.37. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly 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). The business had revenue of $4.47 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. Equities analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GT. Wall Street Zen downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. BNP Paribas downgraded Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. BNP Paribas Exane reaffirmed 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, Hsbc Global Res cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.25.

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.