Charles Schwab Investment Management Inc. Buys 252,960 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Charles Schwab Investment Management Inc. boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,532,990 shares of the company’s stock after purchasing an additional 252,960 shares during the period. Charles Schwab Investment Management Inc. owned about 1.24% of Goodyear Tire & Rubber worth $31,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in 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 valued at $42,051,000 after buying an additional 4,633,368 shares during the last quarter. AQR Capital Management LLC increased its holdings in Goodyear Tire & Rubber by 91.5% during the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock valued at $28,203,000 after buying an additional 1,211,519 shares during the last quarter. American Century Companies Inc. increased 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 buying an additional 1,013,550 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Goodyear Tire & Rubber during the second quarter valued at approximately $8,492,000. Finally, Bank of Montreal Can increased its holdings in Goodyear Tire & Rubber by 323.6% during the second quarter. Bank of Montreal Can now owns 976,078 shares of the company’s stock valued at $11,108,000 after buying an additional 745,636 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 2.4 %

GT opened at $10.74 on Wednesday. The company has a fifty day moving average of $8.95 and a 200 day moving average of $9.84. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. 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) last posted its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $4.96 billion. During the same period last year, the company posted $0.36 earnings per share. Goodyear Tire & Rubber’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.