The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Hedges Asset Management LLC

Hedges Asset Management LLC lessened its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 18.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 79,000 shares of the company’s stock after selling 18,000 shares during the quarter. Hedges Asset Management LLC’s holdings in Goodyear Tire & Rubber were worth $711,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after buying an additional 86,227 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Goodyear Tire & Rubber by 3,921.7% during the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after acquiring an additional 4,633,368 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Goodyear Tire & Rubber by 13.4% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock worth $36,301,000 after purchasing an additional 484,198 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Goodyear Tire & Rubber by 7.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock worth $31,267,000 after purchasing an additional 252,960 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Goodyear Tire & Rubber by 91.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock valued at $28,203,000 after purchasing an additional 1,211,519 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.30.

Goodyear Tire & Rubber Trading Down 0.5 %

NASDAQ GT opened at $9.29 on Friday. The company has a market cap of $2.65 billion, a P/E ratio of -8.93 and a beta of 1.80. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $14.97. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65. The company has a 50-day moving average of $9.43 and a 200-day moving average of $9.21.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. Goodyear Tire & Rubber’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.36 earnings per share. As a group, equities analysts predict that The Goodyear Tire & Rubber Company will post 1.05 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.