Nuveen Asset Management LLC Lowers Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Nuveen Asset Management LLC reduced its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,142,464 shares of the company's stock after selling 146,430 shares during the quarter. Nuveen Asset Management LLC owned 0.75% of Goodyear Tire & Rubber worth $19,282,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its stake in Goodyear Tire & Rubber by 251.8% in the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after acquiring an additional 3,059 shares during the last quarter. Signaturefd LLC increased its position in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock valued at $47,000 after purchasing an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $54,000. Transce3nd LLC bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $79,000. 84.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. TD Cowen initiated coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 price target on the stock. BNP Paribas upgraded Goodyear Tire & Rubber to a "hold" rating in a research report on Saturday, May 24th. Finally, Wall Street Zen lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $14.00.

Goodyear Tire & Rubber Trading Down 2.1%

NASDAQ GT traded down $0.24 on Thursday, hitting $11.31. The company's stock had a trading volume of 1,364,574 shares, compared to its average volume of 6,012,135. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.58. 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 company's 50-day simple moving average is $10.23 and its 200 day simple moving average is $9.64. The firm has a market cap of $3.23 billion, a P/E ratio of 47.11 and a beta of 1.42.

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

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.