Cornerstone Investment Partners LLC Takes Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Cornerstone Investment Partners LLC bought a new stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,750 shares of the company’s stock, valued at approximately $168,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ancora Advisors LLC raised its holdings in Goodyear Tire & Rubber by 142.9% in the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock valued at $30,000 after acquiring an additional 1,000 shares during the period. Headinvest LLC bought a new position in Goodyear Tire & Rubber in the 3rd quarter valued at about $34,000. First Manhattan Co. bought a new position in Goodyear Tire & Rubber in the 4th quarter valued at about $31,000. Steward Partners Investment Advisory LLC raised its holdings in Goodyear Tire & Rubber by 27.3% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,018 shares of the company’s stock valued at $44,000 after acquiring an additional 862 shares during the period. Finally, CWM LLC raised its holdings in Goodyear Tire & Rubber by 26.4% in the 3rd quarter. CWM LLC now owns 4,644 shares of the company’s stock valued at $58,000 after acquiring an additional 971 shares during the period. 84.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Goodyear Tire & Rubber Trading Up 1.5 %

Shares of NASDAQ:GT opened at $11.88 on Friday. The company’s 50 day moving average price is $12.55 and its two-hundred day moving average price is $13.16. The Goodyear Tire & Rubber Company has a 12-month low of $10.12 and a 12-month high of $16.50. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.55 and a current ratio of 1.07.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.11. The business had revenue of $5.12 billion for the quarter, compared to analyst estimates 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 firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. As a group, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

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.