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

Levin Capital Strategies L.P. cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 76.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 28,500 shares of the company’s stock after selling 94,165 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Goodyear Tire & Rubber were worth $256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC lifted 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 purchasing an additional 86,227 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 3,921.7% during the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after purchasing an additional 4,633,368 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings 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 purchasing an additional 484,198 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock valued at $31,267,000 after purchasing an additional 252,960 shares during the last quarter. Finally, KLCM Advisors Inc. lifted its holdings 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 purchasing an additional 659,635 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Down 0.1 %

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 Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.86. The company has a market cap of $2.69 billion, a PE ratio of 39.38 and a beta of 1.79. The company has a 50 day simple moving average of $9.09 and a two-hundred day simple moving average of $8.95.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, February 18th. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.98.

About Goodyear Tire & Rubber

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.