Amalgamated Bank Has $1.57 Million Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Amalgamated Bank trimmed its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,196 shares of the company’s stock after selling 10,422 shares during the period. Amalgamated Bank’s holdings in Goodyear Tire & Rubber were worth $1,569,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Goodyear Tire & Rubber by 48.2% during the fourth quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock worth $214,499,000 after buying an additional 4,870,381 shares during the last quarter. National Bank of Canada FI boosted its stake in Goodyear Tire & Rubber by 2,944.7% during the 1st quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock worth $21,600,000 after acquiring an additional 1,611,966 shares during the last quarter. American Century Companies Inc. grew its holdings 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 valued at $82,376,000 after purchasing an additional 1,013,550 shares during the period. Vanguard Group Inc. increased its stake in Goodyear Tire & Rubber by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock valued at $410,082,000 after purchasing an additional 765,529 shares in the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Goodyear Tire & Rubber by 1,011.8% in the second quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock worth $7,197,000 after purchasing an additional 577,045 shares during the period. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

GT opened at $8.02 on Thursday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -3.55 and a beta of 1.70. The business’s 50-day moving average price is $9.04 and its two-hundred day moving average price is $11.10. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $15.24. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned ($0.34) EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 6.1% compared to the same quarter last year. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Morgan Stanley assumed coverage on Goodyear Tire & Rubber in a research report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target on the stock. Finally, StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.23.

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.