The Goodyear Tire & Rubber Company $GT Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 61.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,979 shares of the company’s stock after selling 84,032 shares during the quarter. NewEdge Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Goodyear Tire & Rubber by 6.3% in the 4th quarter. Wellington Management Group LLP now owns 28,047,790 shares of the company’s stock worth $245,699,000 after buying an additional 1,666,394 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Goodyear Tire & Rubber by 8.9% during the first quarter. Dimensional Fund Advisors LP now owns 16,558,938 shares of the company’s stock valued at $109,778,000 after acquiring an additional 1,352,085 shares in the last quarter. State Street Corp increased its position in shares of Goodyear Tire & Rubber by 0.4% during the fourth quarter. State Street Corp now owns 10,450,140 shares of the company’s stock worth $91,543,000 after acquiring an additional 36,786 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Goodyear Tire & Rubber by 151.8% during the fourth quarter. AQR Capital Management LLC now owns 9,764,853 shares of the company’s stock worth $85,540,000 after acquiring an additional 5,886,935 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Goodyear Tire & Rubber by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 7,245,230 shares of the company’s stock worth $63,479,000 after acquiring an additional 449,911 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GT shares. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Friday, August 7th. Citigroup reduced their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Hold” and a consensus price target of $8.26.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT opened at $5.97 on Monday. The Goodyear Tire & Rubber Company has a 12-month low of $5.43 and a 12-month high of $10.62. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -0.68 and a beta of 1.12. The company has a current ratio of 1.09, a quick ratio of 0.55 and a debt-to-equity ratio of 1.92. The stock’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $6.95.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative return on equity of 2.95% and a negative net margin of 14.37%.The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.19 billion. During the same period in the prior year, the business earned ($0.17) EPS. The firm’s revenue was down 4.8% on a year-over-year basis. Equities research analysts expect that The Goodyear Tire & Rubber Company will post -0.43 EPS for the current year.

Goodyear Tire & Rubber Company Profile

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.