Gamco Investors INC. ET AL Has $2.34 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Gamco Investors INC. ET AL increased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 47.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 188,205 shares of the company’s stock after purchasing an additional 60,205 shares during the period. Gamco Investors INC. ET AL owned approximately 0.07% of Goodyear Tire & Rubber worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GT. Alberta Investment Management Corp raised its holdings in Goodyear Tire & Rubber by 1,424.6% in the 2nd quarter. Alberta Investment Management Corp now owns 537,667 shares of the company’s stock valued at $7,355,000 after acquiring an additional 502,400 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Goodyear Tire & Rubber by 28.6% in the 3rd quarter. First Eagle Investment Management LLC now owns 929,196 shares of the company’s stock valued at $11,550,000 after acquiring an additional 206,923 shares in the last quarter. National Bank of Canada FI raised its holdings in Goodyear Tire & Rubber by 46.7% in the 3rd quarter. National Bank of Canada FI now owns 73,466 shares of the company’s stock valued at $920,000 after acquiring an additional 23,376 shares in the last quarter. Newport Trust Company LLC raised its holdings in Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Newport Trust Company LLC now owns 3,490,557 shares of the company’s stock valued at $43,388,000 after acquiring an additional 41,563 shares in the last quarter. Finally, KLCM Advisors Inc. raised its holdings in Goodyear Tire & Rubber by 7.2% in the 3rd quarter. KLCM Advisors Inc. now owns 806,089 shares of the company’s stock valued at $10,020,000 after acquiring an additional 54,484 shares in the last quarter. 80.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Darren R. Wells sold 12,985 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $14.19, for a total transaction of $184,257.15. Following the transaction, the executive vice president now directly owns 98,764 shares of the company’s stock, valued at approximately $1,401,461.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $13.61 on Friday. The Goodyear Tire & Rubber Company has a one year low of $9.85 and a one year high of $16.50. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.70 and a current ratio of 1.30. The stock’s 50-day moving average is $14.08 and its 200 day moving average is $13.40.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last announced its earnings results on Monday, November 6th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.19 by $0.17. Goodyear Tire & Rubber had a negative return on equity of 1.03% and a negative net margin of 2.47%. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the prior year, the company earned $0.40 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 0.07 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on GT. JPMorgan Chase & Co. boosted their price target on Goodyear Tire & Rubber from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Thursday, November 16th. HSBC began coverage on Goodyear Tire & Rubber in a report on Monday, December 4th. They set a “buy” rating and a $16.80 price target for the company. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $21.00 in a report on Thursday, November 16th. Finally, StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average price target of $17.16.

View Our Latest Report on GT

Goodyear Tire & Rubber Profile

(Free Report)

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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