Cwm LLC Sells 1,399 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Cwm LLC lessened its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 30.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,245 shares of the company’s stock after selling 1,399 shares during the period. Cwm LLC’s holdings in Goodyear Tire & Rubber were worth $46,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its stake in Goodyear Tire & Rubber by 29.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 31,282 shares of the company’s stock valued at $389,000 after buying an additional 7,179 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Goodyear Tire & Rubber by 16.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,427 shares of the company’s stock worth $863,000 after purchasing an additional 9,589 shares during the last quarter. Advisor Partners II LLC increased its position in shares of Goodyear Tire & Rubber by 8.9% during the 3rd quarter. Advisor Partners II LLC now owns 13,743 shares of the company’s stock worth $171,000 after purchasing an additional 1,127 shares in the last quarter. Inspire Investing LLC lifted its holdings in Goodyear Tire & Rubber by 3.0% during the 3rd quarter. Inspire Investing LLC now owns 28,396 shares of the company’s stock valued at $353,000 after purchasing an additional 818 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Goodyear Tire & Rubber by 30.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 14,641 shares of the company’s stock valued at $182,000 after buying an additional 3,375 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Price Performance

GT opened at $13.02 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.07 and a quick ratio of 0.55. The company’s 50 day simple moving average is $12.55 and its 200-day simple moving average is $13.16. The Goodyear Tire & Rubber Company has a one year low of $11.26 and a one year high of $16.50. The stock has a market capitalization of $3.70 billion, a P/E ratio of -5.76 and a beta of 1.86.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, May 6th. The company reported $0.10 EPS for the quarter. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The company had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period last year, the firm earned ($0.29) EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on GT shares. HSBC dropped their price objective on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a report on Wednesday. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and an average target price of $16.98.

Goodyear Tire & Rubber 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.