The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. cut its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 76.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,500 shares of the company's stock after selling 94,165 shares during the period. Levin Capital Strategies L.P.'s holdings in Goodyear Tire & Rubber were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Goodyear Tire & Rubber by 2,504.3% in the third quarter. International Assets Investment Management LLC now owns 17,032 shares of the company's stock valued at $1,510,000 after acquiring an additional 16,378 shares during the period. State of Alaska Department of Revenue raised its position in Goodyear Tire & Rubber by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company's stock worth $290,000 after acquiring an additional 2,245 shares in the last quarter. Strategic Blueprint LLC acquired a new stake in Goodyear Tire & Rubber in the third quarter valued at $132,000. US Bancorp DE boosted its position in shares of Goodyear Tire & Rubber by 20.9% during the 3rd quarter. US Bancorp DE now owns 18,281 shares of the company's stock worth $162,000 after purchasing an additional 3,163 shares in the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Goodyear Tire & Rubber by 29.4% during the 3rd quarter. Forum Financial Management LP now owns 13,457 shares of the company's stock worth $119,000 after purchasing an additional 3,058 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on GT. StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.98.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT traded down $0.54 during trading on Monday, reaching $8.92. The company had a trading volume of 2,807,462 shares, compared to its average volume of 5,565,021. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.86. The stock has a 50-day moving average price of $9.09 and a two-hundred day moving average price of $8.96. The stock has a market capitalization of $2.54 billion, a PE ratio of 37.14 and a beta of 1.79.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.91 billion. As a group, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.