Profit Investment Management LLC Sells 77,817 Shares of The Goodyear Tire & Rubber Company $GT

Profit Investment Management LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 33.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,997 shares of the company’s stock after selling 77,817 shares during the quarter. Goodyear Tire & Rubber makes up 1.5% of Profit Investment Management LLC’s holdings, making the stock its 29th biggest position. Profit Investment Management LLC owned about 0.05% of Goodyear Tire & Rubber worth $1,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Chelsea Counsel Co. acquired a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at approximately $1,225,000. Strs Ohio bought a new stake in shares of Goodyear Tire & Rubber in the first quarter valued at about $914,000. Econ Financial Services Corp acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth approximately $923,000. JPMorgan Chase & Co. grew its position in Goodyear Tire & Rubber by 13.8% during the second quarter. JPMorgan Chase & Co. now owns 2,041,518 shares of the company’s stock worth $21,171,000 after buying an additional 247,609 shares in the last quarter. Finally, DG Capital Management LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 1st quarter worth $4,930,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GT has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 15th. Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 6th. Citigroup lowered their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Finally, Morgan Stanley raised their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus price target of $10.85.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock opened at $8.87 on Monday. The business has a 50 day moving average of $7.85 and a 200-day moving average of $8.92. The company has a market capitalization of $2.54 billion, a P/E ratio of -1.46, a P/E/G ratio of 1.81 and a beta of 1.18. The Goodyear Tire & Rubber Company has a 1 year low of $6.51 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.67 billion. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. On average, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.