Algert Global LLC Has $1.86 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Algert Global LLC lifted its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 163,548 shares of the company’s stock after buying an additional 14,133 shares during the period. Algert Global LLC’s holdings in Goodyear Tire & Rubber were worth $1,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Goodyear Tire & Rubber by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock valued at $410,082,000 after purchasing an additional 765,529 shares during the last quarter. Wellington Management Group LLP boosted its position in Goodyear Tire & Rubber by 48.2% during the fourth quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after purchasing an additional 4,870,381 shares during the last quarter. American Century Companies Inc. boosted its position in Goodyear Tire & Rubber by 16.2% during the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after purchasing an additional 1,013,550 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Goodyear Tire & Rubber by 9.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,180,322 shares of the company’s stock valued at $59,862,000 after purchasing an additional 353,758 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Goodyear Tire & Rubber by 3.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 3,977,383 shares of the company’s stock valued at $54,609,000 after purchasing an additional 148,566 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $8.56 on Thursday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54. The business has a 50-day moving average of $8.76 and a two-hundred day moving average of $10.98. The stock has a market capitalization of $2.44 billion, a P/E ratio of -3.79 and a beta of 1.70. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the business posted ($0.34) EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Finally, Morgan Stanley initiated coverage on Goodyear Tire & Rubber in a research report on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price target for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.