Charles Schwab Investment Management Inc. Acquires 62,499 Shares of The Goodyear Tire & Rubber Company $GT

Charles Schwab Investment Management Inc. raised its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,801,118 shares of the company’s stock after purchasing an additional 62,499 shares during the period. Charles Schwab Investment Management Inc. owned 1.33% of Goodyear Tire & Rubber worth $35,122,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GT. Envestnet Asset Management Inc. purchased a new position in Goodyear Tire & Rubber in the 4th quarter worth $157,000. Raymond James Financial Inc. bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at about $193,000. Sterling Capital Management LLC boosted its stake in Goodyear Tire & Rubber by 815.3% during the fourth quarter. Sterling Capital Management LLC now owns 8,979 shares of the company’s stock worth $81,000 after acquiring an additional 7,998 shares in the last quarter. Mariner LLC boosted its stake in Goodyear Tire & Rubber by 27.6% during the fourth quarter. Mariner LLC now owns 32,105 shares of the company’s stock worth $289,000 after acquiring an additional 6,942 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Goodyear Tire & Rubber by 57.4% during the fourth quarter. Guggenheim Capital LLC now owns 58,483 shares of the company’s stock worth $526,000 after acquiring an additional 21,327 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Down 1.2%

NASDAQ:GT opened at $8.39 on Tuesday. The company’s 50 day moving average is $10.45 and its two-hundred day moving average is $10.10. The company has a market cap of $2.40 billion, a PE ratio of 5.91, a P/E/G ratio of 0.75 and a beta of 1.37. The company has a current ratio of 1.15, a quick ratio of 0.63 and a debt-to-equity ratio of 1.24. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%. The firm had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.50 billion. During the same period last year, the company posted $0.19 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

GT has been the subject of several research reports. BNP Paribas Exane reissued a “neutral” rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $17.00 price target (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Finally, BNP Paribas cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.80.

About Goodyear Tire & Rubber

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.