The Goodyear Tire & Rubber Company $GT Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 35.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 175,831 shares of the company’s stock after selling 97,238 shares during the quarter. Hsbc Holdings PLC’s holdings in Goodyear Tire & Rubber were worth $1,540,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GT. EFG International AG purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at $26,000. Los Angeles Capital Management LLC acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth about $26,000. Focus Partners Wealth purchased a new position in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $25,000. Parallel Advisors LLC boosted its stake in shares of Goodyear Tire & Rubber by 55.5% in the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock valued at $62,000 after purchasing an additional 2,538 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its holdings in shares of Goodyear Tire & Rubber by 29.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock valued at $68,000 after purchasing an additional 1,749 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Down 0.6%

Shares of Goodyear Tire & Rubber stock opened at $6.60 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66. The Goodyear Tire & Rubber Company has a 52-week low of $5.43 and a 52-week high of $11.79. The company has a market capitalization of $1.90 billion, a P/E ratio of -0.91 and a beta of 1.12. The company has a 50 day moving average of $6.30 and a 200 day moving average of $7.59.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the business earned ($0.04) EPS. The company’s revenue was down 8.7% on a year-over-year basis. As a group, research analysts forecast that The Goodyear Tire & Rubber Company will post -0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Citigroup decreased their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber presently has a consensus rating of “Reduce” and an average target price of $8.54.

Goodyear Tire & Rubber Company 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.