Xponance Inc. Cuts Stake in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Xponance Inc. trimmed its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 54,803 shares of the company’s stock after selling 1,014 shares during the period. Xponance Inc.’s holdings in Goodyear Tire & Rubber were worth $785,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GT. Headinvest LLC bought a new position in Goodyear Tire & Rubber during the 3rd quarter valued at about $34,000. CWM LLC lifted its stake in Goodyear Tire & Rubber by 26.4% during the 3rd quarter. CWM LLC now owns 4,644 shares of the company’s stock valued at $58,000 after acquiring an additional 971 shares during the period. IFP Advisors Inc lifted its stake in Goodyear Tire & Rubber by 37.5% during the 3rd quarter. IFP Advisors Inc now owns 4,897 shares of the company’s stock valued at $61,000 after acquiring an additional 1,336 shares during the period. American Trust bought a new position in Goodyear Tire & Rubber during the 3rd quarter valued at about $140,000. Finally, Pathstone Family Office LLC bought a new position in Goodyear Tire & Rubber during the 3rd quarter valued at about $141,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ:GT opened at $11.74 on Friday. The firm’s 50 day moving average price is $12.53 and its 200-day moving average price is $13.17. The Goodyear Tire & Rubber Company has a twelve month low of $10.12 and a twelve month high of $16.50. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $3.33 billion, a PE ratio of -4.87 and a beta of 1.85.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Tuesday, February 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.11. Goodyear Tire & Rubber had a negative net margin of 3.43% and a positive return on equity of 1.16%. The company had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter last year, the business earned $0.07 EPS. The firm’s revenue was down 4.8% compared to the same quarter last year. Equities research analysts expect that The Goodyear Tire & Rubber Company will post 1.06 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.