The Goodyear Tire & Rubber Company (NASDAQ:GT) Stake Lowered by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. cut its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 27.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,311 shares of the company’s stock after selling 6,023 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Goodyear Tire & Rubber were worth $151,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock valued at $26,000 after acquiring an additional 1,674 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Goodyear Tire & Rubber by 125.9% during the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company’s stock valued at $29,000 after acquiring an additional 1,748 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Goodyear Tire & Rubber by 1,799.1% during the 1st quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock valued at $37,000 after acquiring an additional 3,868 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at $46,000. Finally, Signaturefd LLC lifted its position in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company’s stock valued at $47,000 after acquiring an additional 1,997 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Goodyear Tire & Rubber Stock Down 1.0%

Goodyear Tire & Rubber stock opened at $11.08 on Tuesday. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.58. The firm has a 50 day moving average price of $10.98 and a 200-day moving average price of $9.92. The company has a market capitalization of $3.17 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.32 and a beta of 1.35. The company has a quick ratio of 0.64, a current ratio of 1.22 and a debt-to-equity ratio of 1.44.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GT shares. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Monday, March 31st. BNP Paribas Exane raised Goodyear Tire & Rubber from a “neutral” rating to an “outperform” rating and set a $15.00 target price on the stock in a research report on Monday, June 9th. BNP Paribas raised Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 9th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $17.00 target price (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $14.20.

Get Our Latest Report on GT

About Goodyear Tire & Rubber

(Free Report)

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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