Towle & Co. Has $7.92 Million Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Towle & Co. lessened its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 43.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 880,202 shares of the company's stock after selling 671,644 shares during the quarter. Towle & Co. owned approximately 0.31% of Goodyear Tire & Rubber worth $7,922,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in shares of Goodyear Tire & Rubber by 10.3% in the 4th quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock valued at $86,871,000 after purchasing an additional 897,463 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 8.3% in the fourth quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock valued at $46,330,000 after buying an additional 396,230 shares during the period. Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $39,626,000. Northern Trust Corp lifted its holdings in shares of 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 buying an additional 573,541 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $33,648,000 after purchasing an additional 205,629 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GT. TD Cowen began coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They set a "buy" rating and a $14.00 target price for the company. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a report on Tuesday, February 18th. Finally, Wall Street Zen lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Goodyear Tire & Rubber presently has an average rating of "Moderate Buy" and a consensus price target of $14.00.

Goodyear Tire & Rubber Price Performance

Shares of Goodyear Tire & Rubber stock traded up $0.63 during midday trading on Thursday, hitting $11.13. 8,573,409 shares of the company were exchanged, compared to its average volume of 5,286,194. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm has a market cap of $3.18 billion, a P/E ratio of 46.38 and a beta of 1.42. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.60. The firm has a 50 day simple moving average of $10.02 and a 200-day simple moving average of $9.57.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) EPS 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 the consensus estimate of $4.41 billion. During the same quarter last year, the company earned $0.10 EPS. Goodyear Tire & Rubber's revenue was down 6.3% on a year-over-year basis. Research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

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.