Kovitz Investment Group Partners LLC Purchases 262,886 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Kovitz Investment Group Partners LLC raised its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 173.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 414,439 shares of the company's stock after purchasing an additional 262,886 shares during the quarter. Kovitz Investment Group Partners LLC owned about 0.15% of Goodyear Tire & Rubber worth $3,661,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. grew its stake in Goodyear Tire & Rubber by 16.2% during the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company's stock worth $82,376,000 after buying an additional 1,013,550 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Goodyear Tire & Rubber by 3,921.7% during the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company's stock worth $42,051,000 after purchasing an additional 4,633,368 shares during the period. Segall Bryant & Hamill LLC increased its holdings in shares of Goodyear Tire & Rubber by 13.4% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company's stock worth $36,301,000 after acquiring an additional 484,198 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Goodyear Tire & Rubber by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company's stock worth $31,267,000 after acquiring an additional 252,960 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Goodyear Tire & Rubber by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company's stock worth $30,817,000 after acquiring an additional 71,410 shares during the period. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT traded up $0.09 during midday trading on Monday, hitting $10.25. 3,888,181 shares of the stock were exchanged, compared to its average volume of 4,327,910. The business's 50-day moving average price is $9.11 and its 200 day moving average price is $9.78. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. 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 announced its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.12. The firm 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%. The business's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wolfe Research lowered shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 5th. StockNews.com downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th.

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.