Tower Research Capital LLC TRC Sells 1,540 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Tower Research Capital LLC TRC lessened its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 14.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,197 shares of the company’s stock after selling 1,540 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Goodyear Tire & Rubber were worth $102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prescott Group Capital Management L.L.C. bought a new position in Goodyear Tire & Rubber during the fourth quarter worth about $3,025,000. Renaissance Technologies LLC boosted its position in shares of Goodyear Tire & Rubber by 161.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,809,754 shares of the company’s stock valued at $28,519,000 after acquiring an additional 1,733,700 shares during the period. Jade Capital Advisors LLC bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $152,000. Texas Permanent School Fund Corp boosted its position in shares of Goodyear Tire & Rubber by 33.3% in the first quarter. Texas Permanent School Fund Corp now owns 253,216 shares of the company’s stock valued at $2,790,000 after acquiring an additional 63,249 shares during the period. Finally, Guardian Investment Management boosted its position in shares of Goodyear Tire & Rubber by 81.4% in the first quarter. Guardian Investment Management now owns 67,479 shares of the company’s stock valued at $1,186,000 after acquiring an additional 30,279 shares during the period. Institutional investors own 80.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Goodyear Tire & Rubber from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, July 20th. Nomura lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Wednesday, May 17th. BNP Paribas upgraded shares of Goodyear Tire & Rubber from an “underperform” rating to a “neutral” rating and set a $13.00 target price for the company in a research report on Monday, May 15th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Goodyear Tire & Rubber from $10.00 to $13.00 in a research report on Wednesday, May 24th. Finally, StockNews.com assumed coverage on shares of Goodyear Tire & Rubber in a research report on Thursday, August 17th. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $14.60.

Goodyear Tire & Rubber Trading Up 3.6 %

Shares of Goodyear Tire & Rubber stock opened at $13.37 on Friday. The firm has a market cap of $3.79 billion, a PE ratio of -10.36 and a beta of 1.81. The Goodyear Tire & Rubber Company has a 1 year low of $9.66 and a 1 year high of $16.50. The company has a 50 day simple moving average of $14.00 and a two-hundred day simple moving average of $12.62. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.28 and a quick ratio of 0.65.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.49). The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $5.21 billion. Goodyear Tire & Rubber had a negative return on equity of 0.80% and a negative net margin of 1.80%. The company’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Analysts expect that The Goodyear Tire & Rubber Company will post -0.03 earnings per share 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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.