The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 19.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,562 shares of the company’s stock after selling 3,707 shares during the period. US Bancorp DE’s holdings in Goodyear Tire & Rubber were worth $144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GT. Brevan Howard Capital Management LP acquired a new stake in Goodyear Tire & Rubber in the fourth quarter worth approximately $606,000. Johnson Investment Counsel Inc. acquired a new stake in Goodyear Tire & Rubber in the first quarter worth approximately $308,000. Sippican Capital Advisors lifted its position in Goodyear Tire & Rubber by 89.1% in the first quarter. Sippican Capital Advisors now owns 176,948 shares of the company’s stock worth $1,635,000 after purchasing an additional 83,363 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Goodyear Tire & Rubber by 19.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 19,650 shares of the company’s stock valued at $182,000 after buying an additional 3,212 shares in the last quarter. Finally, Natixis Advisors LLC bought a new position in shares of Goodyear Tire & Rubber in the first quarter valued at $312,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $17.00 price target (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, August 11th. BNP Paribas downgraded Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. BNP Paribas Exane reiterated a “neutral” rating and set a $9.00 price target on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. Finally, Wall Street Zen downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Saturday, May 10th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Goodyear Tire & Rubber has an average rating of “Moderate Buy” and an average target price of $12.80.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $8.49 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The firm has a market cap of $2.43 billion, a P/E ratio of 5.98, a P/E/G ratio of 0.75 and a beta of 1.37. The firm has a 50 day simple moving average of $10.52 and a 200 day simple moving average of $10.10. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period in the prior year, the firm posted $0.19 EPS. Goodyear Tire & Rubber’s revenue was down 2.3% on a year-over-year basis. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber 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.