The Goodyear Tire & Rubber Company (NASDAQ:GT) Stock Holdings Trimmed by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 34.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,504 shares of the company’s stock after selling 10,241 shares during the period. Stratos Wealth Partners LTD.’s holdings in Goodyear Tire & Rubber were worth $180,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Goodyear Tire & Rubber by 147.5% in the first quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after purchasing an additional 1,674 shares during the period. UMB Bank n.a. raised its stake in 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 purchasing an additional 1,748 shares during the period. Cloud Capital Management LLC acquired a new position in shares of Goodyear Tire & Rubber in the first quarter worth $33,000. Farther Finance Advisors LLC increased its stake in shares of Goodyear Tire & Rubber by 1,799.1% in the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company’s stock worth $37,000 after acquiring an additional 3,868 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth $46,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Trading Down 1.1%

NASDAQ:GT opened at $10.81 on Thursday. The firm’s fifty day moving average is $10.97 and its 200-day moving average is $9.95. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $12.58. The firm has a market cap of $3.09 billion, a P/E ratio of 12.87, a P/E/G ratio of 0.34 and a beta of 1.35.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.41 billion. During the same period last year, the company posted $0.10 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

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

Goodyear Tire & Rubber Company Profile

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.