Wealth Enhancement Advisory Services LLC Boosts Holdings in The Goodyear Tire & Rubber Company $GT

Wealth Enhancement Advisory Services LLC raised its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 58.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,167 shares of the company’s stock after purchasing an additional 11,517 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Goodyear Tire & Rubber were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nuveen LLC acquired a new stake in Goodyear Tire & Rubber in the 1st quarter worth about $20,422,000. CenterBook Partners LP acquired a new position in shares of Goodyear Tire & Rubber in the first quarter worth $13,413,000. American Century Companies Inc. grew its stake in shares of Goodyear Tire & Rubber by 11.7% in the first quarter. American Century Companies Inc. now owns 10,786,387 shares of the company’s stock worth $99,666,000 after acquiring an additional 1,134,058 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Goodyear Tire & Rubber by 700.4% during the 1st quarter. AQR Capital Management LLC now owns 1,228,982 shares of the company’s stock worth $11,233,000 after purchasing an additional 1,075,444 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of Goodyear Tire & Rubber during the 1st quarter worth $5,634,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GT shares. HSBC reissued a “hold” rating and issued a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. Citigroup initiated coverage on shares of Goodyear Tire & Rubber in a research report on Monday, September 8th. They set a “neutral” rating and a $10.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Hsbc Global Res downgraded shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.93.

Goodyear Tire & Rubber Trading Down 2.2%

NASDAQ GT opened at $7.39 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The company has a 50-day simple moving average of $8.53 and a 200-day simple moving average of $9.87. The firm has a market capitalization of $2.11 billion, a PE ratio of 5.20, a price-to-earnings-growth ratio of 0.96 and a beta of 1.28. The Goodyear Tire & Rubber Company has a one year low of $7.38 and a one year high of $12.03.

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

About Goodyear Tire & Rubber

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.