Kovitz Investment Group Partners LLC Has $3.66 Million Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Kovitz Investment Group Partners LLC boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 173.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 414,439 shares of the company’s stock after buying an additional 262,886 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Goodyear Tire & Rubber were worth $3,661,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in GT. Texas Permanent School Fund Corp raised its stake in Goodyear Tire & Rubber by 0.6% during the second quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after buying an additional 1,475 shares during the last quarter. Arizona State Retirement System grew its holdings in Goodyear Tire & Rubber by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock worth $903,000 after acquiring an additional 1,621 shares during the period. Pin Oak Investment Advisors Inc. raised its position in shares of Goodyear Tire & Rubber by 6.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 38,050 shares of the company’s stock worth $336,000 after acquiring an additional 2,195 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Goodyear Tire & Rubber by 7.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock valued at $290,000 after purchasing an additional 2,245 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Goodyear Tire & Rubber by 2.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 114,861 shares of the company’s stock valued at $1,304,000 after purchasing an additional 2,262 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GT. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $10.16 on Monday. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $15.24. The company has a market cap of $2.89 billion, a PE ratio of -9.77 and a beta of 1.77. The stock has a 50-day moving average of $9.11 and a 200-day moving average of $9.78. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65.

Goodyear Tire & Rubber (NASDAQ:GT) 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 positive return on equity of 6.66% and a negative net margin of 1.56%. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.