Kennedy Capital Management LLC Sells 28,606 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Kennedy Capital Management LLC lowered its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 715,529 shares of the company’s stock after selling 28,606 shares during the period. Kennedy Capital Management LLC owned 0.25% of Goodyear Tire & Rubber worth $9,824,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Caxton Associates LP bought a new stake in Goodyear Tire & Rubber during the 1st quarter worth about $1,745,000. Whitebox Advisors LLC raised its stake in shares of Goodyear Tire & Rubber by 2.1% during the first quarter. Whitebox Advisors LLC now owns 403,860 shares of the company’s stock worth $5,545,000 after buying an additional 8,449 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Goodyear Tire & Rubber by 41.8% in the first quarter. Public Employees Retirement System of Ohio now owns 191,981 shares of the company’s stock valued at $2,636,000 after buying an additional 56,588 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Goodyear Tire & Rubber by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 163,218 shares of the company’s stock worth $2,241,000 after acquiring an additional 6,795 shares during the period. Finally, Huber Capital Management LLC raised its position in shares of Goodyear Tire & Rubber by 11.3% during the 1st quarter. Huber Capital Management LLC now owns 337,192 shares of the company’s stock valued at $4,630,000 after acquiring an additional 34,308 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 2.1 %

Shares of NASDAQ GT traded down $0.25 during trading hours on Tuesday, hitting $11.59. The company had a trading volume of 6,121,153 shares, compared to its average volume of 3,339,760. The Goodyear Tire & Rubber Company has a 1-year low of $10.60 and a 1-year high of $16.21. The company has a quick ratio of 0.60, a current ratio of 1.15 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $11.70 and its 200-day moving average is $12.43. The stock has a market capitalization of $3.30 billion, a P/E ratio of -5.15 and a beta of 1.74.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. The company had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. Goodyear Tire & Rubber’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.29) EPS. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GT has been the topic of a number of analyst reports. HSBC cut their price target 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 report on Thursday, May 16th. Finally, Morgan Stanley initiated coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.23.

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.