Creative Planning Sells 26,016 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Creative Planning lessened its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 36.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,957 shares of the company’s stock after selling 26,016 shares during the quarter. Creative Planning’s holdings in Goodyear Tire & Rubber were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Family Firm Inc. bought a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at $26,000. Mather Group LLC. boosted its holdings in Goodyear Tire & Rubber by 4,526.3% in the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after purchasing an additional 2,580 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at $40,000. Sound Income Strategies LLC boosted its holdings in Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after purchasing an additional 3,778 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in Goodyear Tire & Rubber in the 2nd quarter valued at $57,000. Institutional investors own 84.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GT shares. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Tuesday. Wolfe Research cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Trading Up 3.4 %

Shares of Goodyear Tire & Rubber stock opened at $9.83 on Friday. The stock has a market capitalization of $2.80 billion, a P/E ratio of -9.45 and a beta of 1.69. 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 company has a 50-day simple moving average of $8.36 and a 200 day simple moving average of $10.18. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.12. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.69%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 EPS. Research analysts expect that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal 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.