Amalgamated Bank Sells 4,319 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Amalgamated Bank lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 165,401 shares of the company’s stock after selling 4,319 shares during the quarter. Amalgamated Bank’s holdings in Goodyear Tire & Rubber were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Pekin Hardy Strauss Inc. purchased a new position in Goodyear Tire & Rubber during the third quarter valued at $225,000. KLCM Advisors Inc. lifted its position in Goodyear Tire & Rubber by 7.2% during the third quarter. KLCM Advisors Inc. now owns 806,089 shares of the company’s stock valued at $10,020,000 after purchasing an additional 54,484 shares in the last quarter. Quantbot Technologies LP purchased a new position in Goodyear Tire & Rubber during the third quarter valued at $895,000. New York State Common Retirement Fund lifted its position in Goodyear Tire & Rubber by 5.4% during the third quarter. New York State Common Retirement Fund now owns 140,791 shares of the company’s stock valued at $1,750,000 after purchasing an additional 7,230 shares in the last quarter. Finally, Barclays PLC lifted its position in Goodyear Tire & Rubber by 322.4% during the third quarter. Barclays PLC now owns 1,146,756 shares of the company’s stock valued at $14,254,000 after purchasing an additional 875,300 shares in the last quarter. Institutional investors own 80.05% of the company’s stock.

Insider Activity

In other 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 owns 98,764 shares of the company’s stock, valued at $1,401,461.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Goodyear Tire & Rubber from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, November 16th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and lifted their target price for the company from $13.00 to $21.00 in a research report on Thursday, November 16th. Finally, HSBC initiated coverage on Goodyear Tire & Rubber in a research report on Monday, December 4th. They issued a “buy” rating and a $16.80 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.16.

Get Our Latest Stock Analysis on GT

Goodyear Tire & Rubber Trading Up 1.3 %

GT opened at $13.63 on Tuesday. The stock has a market cap of $3.86 billion, a price-to-earnings ratio of -7.74 and a beta of 1.87. The stock’s 50 day moving average price is $14.04 and its 200-day moving average price is $13.34. 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.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last released its earnings results on Monday, February 12th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.11. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.38 billion. Goodyear Tire & Rubber had a negative return on equity of 1.03% and a negative net margin of 2.47%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post 0.07 EPS for the current year.

Goodyear Tire & Rubber Company 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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Want to see what other hedge funds are holding GT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report).

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

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