Federated Hermes Inc. cut its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 8.7% in the 4th quarter, Holdings Channel reports. The firm owned 183,228 shares of the company’s stock after selling 17,382 shares during the period. Federated Hermes Inc.’s holdings in Goodyear Tire & Rubber were worth $2,624,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GT. Headinvest LLC bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $34,000. CWM LLC lifted its stake in shares of Goodyear Tire & Rubber by 26.4% in 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 last quarter. IFP Advisors Inc lifted its stake in shares of Goodyear Tire & Rubber by 37.5% in 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 last quarter. Cerity Partners LLC bought a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $156,000. Finally, American Trust bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $140,000. 84.19% of the stock is currently owned by institutional investors.
Goodyear Tire & Rubber Stock Performance
NASDAQ GT opened at $11.84 on Friday. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -4.91 and a beta of 1.85. The Goodyear Tire & Rubber Company has a twelve month low of $10.12 and a twelve month high of $16.50. The stock has a fifty day simple moving average of $12.51 and a 200 day simple moving average of $13.16. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.16.
Read Our Latest Report on Goodyear Tire & Rubber
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 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.
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