Charles Schwab Investment Management Inc. Sells 175,664 Shares of The Goodyear Tire & Rubber Company $GT

Charles Schwab Investment Management Inc. lowered its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,608,370 shares of the company’s stock after selling 175,664 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Goodyear Tire & Rubber were worth $31,609,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Invenomic Capital Management LP bought a new position in Goodyear Tire & Rubber during the third quarter valued at about $13,753,000. CenterBook Partners LP lifted its holdings in Goodyear Tire & Rubber by 166.1% during the third quarter. CenterBook Partners LP now owns 2,040,792 shares of the company’s stock valued at $15,265,000 after purchasing an additional 1,273,883 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in Goodyear Tire & Rubber during the third quarter valued at about $1,318,000. Allianz Asset Management GmbH lifted its holdings in Goodyear Tire & Rubber by 76.3% during the third quarter. Allianz Asset Management GmbH now owns 1,135,023 shares of the company’s stock valued at $8,490,000 after purchasing an additional 491,210 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its holdings in Goodyear Tire & Rubber by 313.7% during the third quarter. Brevan Howard Capital Management LP now owns 438,206 shares of the company’s stock valued at $3,278,000 after purchasing an additional 332,294 shares during the last quarter. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GT shares. Zacks Research downgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. TD Cowen dropped their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a report on Sunday. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $8.54.

Goodyear Tire & Rubber Trading Down 2.6%

Shares of Goodyear Tire & Rubber stock opened at $5.64 on Friday. The Goodyear Tire & Rubber Company has a 12-month low of $5.63 and a 12-month high of $12.03. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -0.78 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The company’s 50-day moving average price is $6.76 and its 200-day moving average price is $8.00.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The firm had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post -0.11 earnings per share for the current fiscal 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.