Nisa Investment Advisors LLC Has $484,000 Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Nisa Investment Advisors LLC reduced its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,815 shares of the company’s stock after selling 3,075 shares during the period. Nisa Investment Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $484,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GT. Wellington Management Group LLP acquired a new stake in Goodyear Tire & Rubber during the third quarter worth approximately $125,650,000. Assenagon Asset Management S.A. raised its position in shares of Goodyear Tire & Rubber by 880.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock valued at $8,178,000 after buying an additional 512,875 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at approximately $207,000. American Century Companies Inc. increased its stake in Goodyear Tire & Rubber by 24.9% in the third quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock valued at $59,348,000 after acquiring an additional 953,047 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in Goodyear Tire & Rubber by 14.4% in the third quarter. Deutsche Bank AG now owns 135,940 shares of the company’s stock valued at $1,690,000 after acquiring an additional 17,093 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $11.97 on Thursday. The firm’s fifty day moving average price is $12.62 and its two-hundred day moving average price is $13.18. The stock has a market cap of $3.40 billion, a PE ratio of -4.97 and a beta of 1.85. The Goodyear Tire & Rubber Company has a fifty-two week low of $10.12 and a fifty-two week high of $16.50. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.55 and a current ratio of 1.07.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.16.

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.