LSV Asset Management Sells 326,551 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

LSV Asset Management decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 7,288,094 shares of the company’s stock after selling 326,551 shares during the quarter. LSV Asset Management’s holdings in Goodyear Tire & Rubber were worth $104,366,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of GT. Headinvest LLC purchased a new position in shares of Goodyear Tire & Rubber during the third quarter valued at about $34,000. Cerity Partners LLC purchased a new position in Goodyear Tire & Rubber during the fourth quarter valued at $156,000. American Trust bought a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter valued at $140,000. Pathstone Family Office LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter worth about $141,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth about $168,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.16.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock traded down $0.10 during mid-day trading on Friday, reaching $12.24. The stock had a trading volume of 3,731,217 shares, compared to its average volume of 2,699,479. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.55 and a current ratio of 1.07. The Goodyear Tire & Rubber Company has a one year low of $10.12 and a one year high of $16.50. The company has a 50-day moving average price of $12.48 and a two-hundred day moving average price of $13.15.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.11. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 earnings per share. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

About Goodyear Tire & Rubber

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.