The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Purchased by Sippican Capital Advisors

Sippican Capital Advisors raised its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 89.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,948 shares of the company's stock after purchasing an additional 83,363 shares during the period. Sippican Capital Advisors owned 0.06% of Goodyear Tire & Rubber worth $1,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in shares of Goodyear Tire & Rubber by 10.3% during the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock worth $86,871,000 after acquiring an additional 897,463 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Goodyear Tire & Rubber by 8.3% during the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock worth $46,330,000 after acquiring an additional 396,230 shares during the last quarter. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $39,626,000. Northern Trust Corp grew its stake in shares of Goodyear Tire & Rubber by 17.0% during the fourth quarter. Northern Trust Corp now owns 3,941,378 shares of the company's stock worth $35,472,000 after acquiring an additional 573,541 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Goodyear Tire & Rubber by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock worth $33,648,000 after acquiring an additional 205,629 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Price Performance

Shares of GT stock traded up $0.28 during trading hours on Thursday, hitting $11.36. 2,731,605 shares of the company's stock were exchanged, compared to its average volume of 5,735,938. The company has a quick ratio of 0.64, a current ratio of 1.22 and a debt-to-equity ratio of 1.44. The firm has a market cap of $3.24 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.31 and a beta of 1.35. The firm has a 50 day moving average of $10.93 and a two-hundred day moving average of $9.79. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.58.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results 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. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 5.31% and a net margin of 1.30%. The business's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on GT shares. Wall Street Zen lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. BNP Paribas Exane upgraded Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 target price on the stock in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price on the stock in a research report on Monday, March 31st. JPMorgan Chase & Co. reiterated 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. Finally, BNP Paribas upgraded Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has an average rating of "Buy" and an average price target of $14.20.

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.