Levin Capital Strategies L.P. Has $2.58 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Levin Capital Strategies L.P. decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 179,878 shares of the company’s stock after selling 3,400 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.06% of Goodyear Tire & Rubber worth $2,576,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $125,650,000. Assenagon Asset Management S.A. grew its holdings in Goodyear Tire & Rubber by 880.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock worth $8,178,000 after purchasing an additional 512,875 shares during the period. Aigen Investment Management LP acquired a new stake in Goodyear Tire & Rubber in the third quarter worth $207,000. American Century Companies Inc. grew its holdings in Goodyear Tire & Rubber by 24.9% in the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock worth $59,348,000 after purchasing an additional 953,047 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Goodyear Tire & Rubber by 14.4% during the third quarter. Deutsche Bank AG now owns 135,940 shares of the company’s stock valued at $1,690,000 after buying an additional 17,093 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

GT stock traded up $0.33 during midday trading on Thursday, reaching $12.26. The company had a trading volume of 2,320,221 shares, compared to its average volume of 3,621,741. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.07 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a 1 year low of $10.12 and a 1 year high of $16.50. The company has a market capitalization of $3.48 billion, a P/E ratio of -4.95 and a beta of 1.86. The firm has a 50-day moving average price of $12.48 and a 200-day moving average price of $13.16.

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

Analyst Ratings Changes

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

Goodyear Tire & Rubber 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.