Hotchkis & Wiley Capital Management LLC Has $8.07 Million Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Hotchkis & Wiley Capital Management LLC lowered its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 22.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 912,250 shares of the company's stock after selling 266,870 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.32% of Goodyear Tire & Rubber worth $8,073,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew 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 buying an additional 4,633,368 shares in the last quarter. AQR Capital Management LLC boosted its position in Goodyear Tire & Rubber by 91.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company's stock worth $28,203,000 after acquiring an additional 1,211,519 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Goodyear Tire & Rubber by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company's stock worth $82,376,000 after acquiring an additional 1,013,550 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $8,492,000. Finally, Bank of Montreal Can lifted its position in shares of Goodyear Tire & Rubber by 323.6% in the second quarter. Bank of Montreal Can now owns 976,078 shares of the company's stock worth $11,108,000 after purchasing an additional 745,636 shares in the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Down 7.6 %

Shares of NASDAQ:GT traded down $0.82 during midday trading on Thursday, hitting $9.99. The stock had a trading volume of 6,187,998 shares, compared to its average volume of 4,324,908. The company has a market cap of $2.85 billion, a P/E ratio of -10.39 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. The business's 50-day simple moving average is $9.05 and its 200-day simple moving average is $9.83. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51.

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

Analyst Ratings Changes

A number of research firms recently weighed in on GT. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research 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 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.