The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Cwm LLC

Cwm LLC lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 30.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,245 shares of the company’s stock after selling 1,399 shares during the quarter. Cwm LLC’s holdings in Goodyear Tire & Rubber were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GT. Wellington Management Group LLP purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $125,650,000. American Century Companies Inc. lifted its stake in shares of Goodyear Tire & Rubber by 24.9% during the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock worth $59,348,000 after purchasing an additional 953,047 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in shares of Goodyear Tire & Rubber in the third quarter worth about $51,031,000. Newport Trust Company LLC grew its stake in shares of Goodyear Tire & Rubber by 1.2% in the third quarter. Newport Trust Company LLC now owns 3,490,557 shares of the company’s stock valued at $43,388,000 after buying an additional 41,563 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Goodyear Tire & Rubber by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,163,390 shares of the company’s stock valued at $39,321,000 after buying an additional 83,881 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. HSBC decreased their price target on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a report on Wednesday. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.98.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $13.02 on Friday. The Goodyear Tire & Rubber Company has a 52-week low of $11.26 and a 52-week high of $16.50. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of -5.76 and a beta of 1.86. The business’s 50 day moving average is $12.55 and its two-hundred day moving average is $13.16.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The firm’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.29) earnings per share. Analysts forecast that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

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.