The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Towle & Co.

Towle & Co. lessened its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 43.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 880,202 shares of the company's stock after selling 671,644 shares during the quarter. Towle & Co. owned about 0.31% of Goodyear Tire & Rubber worth $7,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GT. American Century Companies Inc. lifted its holdings 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 worth $86,871,000 after buying an additional 897,463 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company's stock worth $46,330,000 after buying an additional 396,230 shares during the period. Norges Bank purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $39,626,000. Northern Trust Corp lifted its holdings in shares of Goodyear Tire & Rubber by 17.0% in the 4th quarter. Northern Trust Corp now owns 3,941,378 shares of the company's stock worth $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% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company's stock worth $33,648,000 after buying an additional 205,629 shares during the period. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Trading Down 1.6%

GT stock traded down $0.18 during midday trading on Friday, hitting $10.95. 5,665,060 shares of the company's stock were exchanged, compared to its average volume of 5,301,091. The business has a 50-day simple moving average of $10.10 and a two-hundred day simple moving average of $9.60. 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 stock has a market capitalization of $3.13 billion, a PE ratio of 45.63 and a beta of 1.42. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $12.58.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (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 company had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.41 billion. During the same quarter last year, the firm earned $0.10 earnings per share. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.