Edgestream Partners L.P. Decreases Stock Holdings in The Goodyear Tire & Rubber Company $GT

Edgestream Partners L.P. decreased its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 34.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,665 shares of the company’s stock after selling 93,045 shares during the period. Edgestream Partners L.P.’s holdings in Goodyear Tire & Rubber were worth $1,165,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EFG International AG purchased a new stake in Goodyear Tire & Rubber during the 4th quarter valued at $26,000. Los Angeles Capital Management LLC purchased a new position in shares of Goodyear Tire & Rubber in the 4th quarter worth $26,000. Focus Partners Wealth purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Goodyear Tire & Rubber by 656.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company’s stock worth $40,000 after acquiring an additional 5,248 shares during the period. Finally, Parallel Advisors LLC grew its holdings in shares of Goodyear Tire & Rubber by 55.5% in the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after acquiring an additional 2,538 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. TD Cowen cut their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Finally, Zacks Research raised shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of “Hold” and a consensus price target of $8.54.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $7.03 on Tuesday. The business’s fifty day moving average is $6.53 and its 200 day moving average is $7.26. The Goodyear Tire & Rubber Company has a fifty-two week low of $5.43 and a fifty-two week high of $10.62. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The company has a market capitalization of $2.02 billion, a PE ratio of -0.97 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the prior year, the business posted ($0.04) earnings per share. The business’s quarterly revenue was down 8.7% on a year-over-year basis. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post -0.26 earnings per share 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.