Legacy Capital Group California Inc. Grows Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Legacy Capital Group California Inc. increased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 115.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,911 shares of the company’s stock after buying an additional 13,338 shares during the period. Legacy Capital Group California Inc.’s holdings in Goodyear Tire & Rubber were worth $220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GT. Vanguard Group Inc. lifted its position in Goodyear Tire & Rubber by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock valued at $410,082,000 after purchasing an additional 765,529 shares in the last quarter. American Century Companies Inc. raised its position in shares of Goodyear Tire & Rubber by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after purchasing an additional 1,013,550 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 3.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,977,383 shares of the company’s stock valued at $54,609,000 after acquiring an additional 148,566 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Goodyear Tire & Rubber by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock worth $30,817,000 after acquiring an additional 71,410 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Goodyear Tire & Rubber by 91.5% during the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock worth $28,203,000 after purchasing an additional 1,211,519 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.23.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $8.24 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $15.24. The business has a 50 day simple moving average of $8.37 and a two-hundred day simple moving average of $10.41. The stock has a market capitalization of $2.35 billion, a PE ratio of -3.65 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted ($0.34) earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 6.1% on a year-over-year basis. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

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.