Raymond James & Associates cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 36.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,638 shares of the company’s stock after selling 6,100 shares during the quarter. Raymond James & Associates’ holdings in Goodyear Tire & Rubber were worth $146,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Ancora Advisors LLC increased its stake in Goodyear Tire & Rubber by 142.9% during the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after purchasing an additional 1,000 shares in the last quarter. First Manhattan Co. bought a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new stake in Goodyear Tire & Rubber during the 1st quarter worth approximately $36,000. Trivant Custom Portfolio Group LLC bought a new stake in Goodyear Tire & Rubber during the 1st quarter worth approximately $44,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Goodyear Tire & Rubber by 27.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 4,018 shares of the company’s stock worth $44,000 after purchasing an additional 862 shares in the last quarter. 80.05% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on GT. StockNews.com began coverage on Goodyear Tire & Rubber in a research report on Thursday, October 5th. They set a “hold” rating for the company. JPMorgan Chase & Co. upped their price target on Goodyear Tire & Rubber from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, July 20th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.00.
Goodyear Tire & Rubber Trading Up 1.2 %
NASDAQ GT opened at $13.01 on Tuesday. The company has a market cap of $3.69 billion, a PE ratio of -7.39 and a beta of 1.81. The company has a current ratio of 1.30, a quick ratio of 0.70 and a debt-to-equity ratio of 1.56. The Goodyear Tire & Rubber Company has a 12 month low of $9.66 and a 12 month high of $16.50. The stock has a 50 day moving average of $12.39 and a 200-day moving average of $13.20.
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last released its quarterly earnings data on Monday, November 6th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.19 by $0.17. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.30 billion. Goodyear Tire & Rubber had a negative return on equity of 1.03% and a negative net margin of 2.47%. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post -0.03 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 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.
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