Levin Capital Strategies L.P. Reduces Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Levin Capital Strategies L.P. lowered its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 76.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,500 shares of the company’s stock after selling 94,165 shares during the period. Levin Capital Strategies L.P.’s holdings in Goodyear Tire & Rubber were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC raised its position in shares of Goodyear Tire & Rubber by 158.6% in the third quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after buying an additional 598,330 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after buying an additional 86,227 shares in the last quarter. FMR LLC raised its position in shares of Goodyear Tire & Rubber by 28.1% in the third quarter. FMR LLC now owns 842,822 shares of the company’s stock worth $7,459,000 after buying an additional 184,770 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in Goodyear Tire & Rubber by 69.5% in the third quarter. Landscape Capital Management L.L.C. now owns 142,790 shares of the company’s stock valued at $1,264,000 after acquiring an additional 58,526 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its stake in Goodyear Tire & Rubber by 13.4% in the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock valued at $36,301,000 after acquiring an additional 484,198 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 0.1 %

Shares of NASDAQ:GT opened at $9.45 on Friday. 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 $2.69 billion, a P/E ratio of 39.38 and a beta of 1.79. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.86. The stock’s 50-day moving average price is $9.09 and its 200-day moving average price is $8.95.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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 note on Tuesday, February 18th. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.98.

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.