Assenagon Asset Management S.A. Sells 406,738 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Assenagon Asset Management S.A. trimmed its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 71.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 164,386 shares of the company's stock after selling 406,738 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of Goodyear Tire & Rubber worth $2,257,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $125,650,000. Aigen Investment Management LP acquired a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $207,000. Boston Partners acquired a new position in Goodyear Tire & Rubber in the 4th quarter valued at about $1,042,000. American Century Companies Inc. grew its stake in Goodyear Tire & Rubber by 24.9% in the 3rd quarter. American Century Companies Inc. now owns 4,774,601 shares of the company's stock valued at $59,348,000 after buying an additional 953,047 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Goodyear Tire & Rubber by 14.4% in the 3rd quarter. Deutsche Bank AG now owns 135,940 shares of the company's stock valued at $1,690,000 after buying an additional 17,093 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Trading Down 1.6 %

GT stock traded down $0.20 during midday trading on Tuesday, hitting $12.41. The stock had a trading volume of 3,474,705 shares, compared to its average volume of 3,611,451. The Goodyear Tire & Rubber Company has a 1-year low of $11.26 and a 1-year high of $16.50. The company has a current ratio of 1.15, a quick ratio of 0.60 and a debt-to-equity ratio of 1.56. The firm has a market cap of $3.53 billion, a P/E ratio of -5.49 and a beta of 1.86. The business has a fifty day moving average price of $12.66 and a two-hundred day moving average price of $13.22.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the firm posted ($0.29) earnings per share. The business's revenue was down 8.9% compared to the same quarter last year. On average, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. HSBC decreased their target price on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a "buy" rating on the stock in a research report on Wednesday, May 8th. StockNews.com upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Thursday, May 16th.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.

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