The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 59.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,812 shares of the company’s stock after selling 10,129 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Goodyear Tire & Rubber were worth $77,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Wellington Management Group LLP grew its holdings in Goodyear Tire & Rubber by 48.2% in the 4th quarter. Wellington Management Group LLP now owns 14,978,975 shares of the company’s stock valued at $214,499,000 after buying an additional 4,870,381 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Goodyear Tire & Rubber by 2,944.7% in the first quarter. National Bank of Canada FI now owns 1,666,708 shares of the company’s stock valued at $21,600,000 after purchasing an additional 1,611,966 shares during the period. American Century Companies Inc. increased its position in Goodyear Tire & Rubber by 16.2% during the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock worth $82,376,000 after purchasing an additional 1,013,550 shares during the last quarter. Vanguard Group Inc. raised its stake in Goodyear Tire & Rubber by 2.6% during the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock worth $410,082,000 after purchasing an additional 765,529 shares during the period. Finally, Bank of Montreal Can boosted its holdings in Goodyear Tire & Rubber by 323.6% in the 2nd quarter. Bank of Montreal Can now owns 976,078 shares of the company’s stock valued at $11,108,000 after purchasing an additional 745,636 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley initiated coverage on Goodyear Tire & Rubber in a report on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Trading Up 5.0 %

GT opened at $8.77 on Monday. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $8.89 and a 200-day simple moving average of $11.03. The firm has a market cap of $2.50 billion, a P/E ratio of -3.88 and a beta of 1.70.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted ($0.34) EPS. Goodyear Tire & Rubber’s revenue was down 6.1% compared to the same quarter last year. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

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.