Investors Research Corp Sells 5,600 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Investors Research Corp reduced its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,125 shares of the company’s stock after selling 5,600 shares during the quarter. Investors Research Corp’s holdings in Goodyear Tire & Rubber were worth $307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of Goodyear Tire & Rubber by 1.2% during the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after acquiring an additional 86,227 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 valued at $46,330,000 after buying an additional 396,230 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Goodyear Tire & Rubber by 13.4% during the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after buying an additional 484,198 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 205,629 shares during the last quarter. Finally, KLCM Advisors Inc. boosted its position in shares of Goodyear Tire & Rubber by 59.4% during the fourth quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock valued at $15,934,000 after buying an additional 659,635 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 1.2 %

GT stock opened at $9.67 on Tuesday. The stock’s fifty day simple moving average is $9.12 and its two-hundred day simple moving average is $8.98. 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 Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $13.86. The stock has a market cap of $2.76 billion, a P/E ratio of 40.29 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business had revenue of $4.95 billion for the quarter, compared to analysts’ expectations of $4.91 billion. Analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GT shares. TD Cowen started coverage on Goodyear Tire & Rubber in a research report on Friday. They set a “buy” rating and a $14.00 target price on the stock. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. 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 investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and an average price target of $13.18.

Goodyear Tire & Rubber Company 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.