Cornerstone Investment Partners LLC Invests $168,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Cornerstone Investment Partners LLC bought a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,750 shares of the company’s stock, valued at approximately $168,000.

Several other large investors also recently added to or reduced their stakes in GT. Ancora Advisors LLC grew its position in Goodyear Tire & Rubber by 71.4% during the first quarter. Ancora Advisors LLC now owns 2,400 shares of the company’s stock valued at $26,000 after buying an additional 1,000 shares during the period. First Manhattan Co. bought a new stake in Goodyear Tire & Rubber during the fourth quarter valued at approximately $31,000. Headinvest LLC purchased a new position in Goodyear Tire & Rubber during the third quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC lifted its holdings in Goodyear Tire & Rubber by 27.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 4,018 shares of the company’s stock valued at $44,000 after purchasing an additional 862 shares in the last quarter. Finally, CWM LLC lifted its holdings in Goodyear Tire & Rubber by 26.4% during the third quarter. CWM LLC now owns 4,644 shares of the company’s stock valued at $58,000 after purchasing an additional 971 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $11.88 on Friday. The Goodyear Tire & Rubber Company has a 1-year low of $10.12 and a 1-year high of $16.50. The firm’s 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $13.16. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.36 by $0.11. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.38 billion. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.16.

Goodyear Tire & Rubber 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.