Charles Schwab Investment Management Inc. Has $31.61 Million Stake in The Goodyear Tire & Rubber Company $GT

Charles Schwab Investment Management Inc. decreased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,608,370 shares of the company’s stock after selling 175,664 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.26% of Goodyear Tire & Rubber worth $31,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after acquiring an additional 1,011 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Goodyear Tire & Rubber by 11.5% during the 4th quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock valued at $98,000 after acquiring an additional 1,152 shares during the period. Cidel Asset Management Inc. lifted its position in shares of Goodyear Tire & Rubber by 14.5% during the 4th quarter. Cidel Asset Management Inc. now owns 12,392 shares of the company’s stock valued at $109,000 after acquiring an additional 1,570 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Goodyear Tire & Rubber by 29.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after acquiring an additional 1,749 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Goodyear Tire & Rubber by 10.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,869 shares of the company’s stock valued at $165,000 after acquiring an additional 1,819 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 2.6%

Shares of NASDAQ GT opened at $5.64 on Friday. The stock has a market capitalization of $1.62 billion, a P/E ratio of -0.78 and a beta of 1.17. The company has a 50-day moving average price of $6.76 and a 200-day moving average price of $8.00. The Goodyear Tire & Rubber Company has a 1 year low of $5.63 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.04 and a quick ratio of 0.51.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the business posted ($0.04) EPS. The business’s revenue was down 8.7% compared to the same quarter last year. On average, equities research analysts forecast that The Goodyear Tire & Rubber Company will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GT has been the topic of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. TD Cowen reduced their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen cut shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Sunday. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Reduce” and an average price target of $8.54.

Goodyear Tire & Rubber Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.