Stratos Wealth Partners LTD. Reduces Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Stratos Wealth Partners LTD. cut its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.2% during the fourth quarter, HoldingsChannel reports. The firm owned 41,520 shares of the company’s stock after selling 3,690 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Goodyear Tire & Rubber were worth $595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Goodyear Tire & Rubber by 94.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 34,395 shares of the company’s stock worth $491,000 after purchasing an additional 16,701 shares during the period. US Bancorp DE boosted its position in shares of Goodyear Tire & Rubber by 10.3% during the first quarter. US Bancorp DE now owns 15,225 shares of the company’s stock valued at $217,000 after buying an additional 1,418 shares during the period. Citigroup Inc. grew its stake in shares of Goodyear Tire & Rubber by 14.2% during the first quarter. Citigroup Inc. now owns 259,007 shares of the company’s stock valued at $3,702,000 after buying an additional 32,111 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Goodyear Tire & Rubber by 35.0% in the first quarter. PNC Financial Services Group Inc. now owns 33,421 shares of the company’s stock worth $479,000 after buying an additional 8,670 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Goodyear Tire & Rubber by 10.5% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 102,976 shares of the company’s stock worth $1,472,000 after acquiring an additional 9,818 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.16.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $12.27 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.55 and a current ratio of 1.07. The firm has a market cap of $3.48 billion, a PE ratio of -5.09 and a beta of 1.85. The firm’s 50 day simple moving average is $12.72 and its 200-day simple moving average is $13.17. The Goodyear Tire & Rubber Company has a one year low of $10.12 and a one year high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Tuesday, February 13th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.11. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The business had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same period in the previous year, the company posted $0.07 EPS. Goodyear Tire & Rubber’s revenue was down 4.8% on a year-over-year basis. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.12 EPS for the current year.

About Goodyear Tire & Rubber

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.