Jacobs Levy Equity Management Inc. Lowers Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Jacobs Levy Equity Management Inc. lowered its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 9.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,670,923 shares of the company's stock after selling 363,406 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.29% of Goodyear Tire & Rubber worth $32,488,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Family Firm Inc. purchased a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at approximately $26,000. Mather Group LLC. grew its stake in shares of Goodyear Tire & Rubber by 4,526.3% in the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company's stock valued at $30,000 after purchasing an additional 2,580 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company's stock valued at $35,000 after purchasing an additional 3,778 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Goodyear Tire & Rubber in the 2nd quarter valued at approximately $57,000. Finally, ORG Partners LLC acquired a new stake in shares of Goodyear Tire & Rubber in the 2nd quarter valued at approximately $72,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Analysts Set New Price Targets

GT has been the subject of several recent analyst reports. Wolfe Research cut Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 5th. StockNews.com cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th.

Goodyear Tire & Rubber Price Performance

Goodyear Tire & Rubber stock traded up $0.01 during mid-day trading on Wednesday, hitting $10.75. 1,444,072 shares of the company were exchanged, compared to its average volume of 4,309,294. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The business's 50 day simple moving average is $9.00 and its two-hundred day simple moving average is $9.83. The company has a market capitalization of $3.06 billion, a P/E ratio of -10.21 and a beta of 1.77. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.12. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. Goodyear Tire & Rubber's revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. Analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

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.