KLCM Advisors Inc. Decreases Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

KLCM Advisors Inc. lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 6.3% in the fourth quarter, Holdings Channel reports. The fund owned 755,105 shares of the company’s stock after selling 50,984 shares during the quarter. Goodyear Tire & Rubber makes up about 1.7% of KLCM Advisors Inc.’s holdings, making the stock its 22nd biggest holding. KLCM Advisors Inc.’s holdings in Goodyear Tire & Rubber were worth $10,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at approximately $125,650,000. Nomura Holdings Inc. raised its position in shares of Goodyear Tire & Rubber by 1,498.4% during the 1st quarter. Nomura Holdings Inc. now owns 9,729,800 shares of the company’s stock valued at $107,222,000 after acquiring an additional 9,121,084 shares in the last quarter. Electron Capital Partners LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 3rd quarter valued at approximately $51,031,000. BlackRock Inc. raised its position in shares of Goodyear Tire & Rubber by 7.6% during the 1st quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock valued at $511,113,000 after acquiring an additional 2,528,942 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $18,272,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Goodyear Tire & Rubber Stock Down 0.3 %

NASDAQ GT traded down $0.04 during trading hours on Wednesday, hitting $12.14. The company had a trading volume of 771,412 shares, compared to its average volume of 3,725,140. The Goodyear Tire & Rubber Company has a fifty-two week low of $10.12 and a fifty-two week high of $16.50. 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 business has a fifty day simple moving average of $12.66 and a 200-day simple moving average of $13.18.

Goodyear Tire & Rubber (NASDAQ:GT) last released 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. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. 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 business posted $0.07 earnings per share. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. Research analysts predict that The Goodyear Tire & Rubber Company will post 1.12 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.