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

NewEdge Advisors LLC decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 61.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 SEC filing.

Several other large investors have also modified their holdings of GT. Wellington Management Group LLP grew its holdings in Goodyear Tire & Rubber by 6.3% in the fourth quarter. Wellington Management Group LLP now owns 28,047,790 shares of the company’s stock valued at $245,699,000 after purchasing an additional 1,666,394 shares during the period. Dimensional Fund Advisors LP raised its stake in 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 worth $109,778,000 after purchasing an additional 1,352,085 shares during the period. State Street Corp raised its stake in 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 purchasing an additional 36,786 shares during the period. AQR Capital Management LLC raised its stake in 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 purchasing an additional 5,886,935 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Goodyear Tire & Rubber by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 7,245,230 shares of the company’s stock valued at $63,479,000 after purchasing an additional 449,911 shares during the last quarter. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Citigroup reduced their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Zacks Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. upped their price target on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Hold” and a consensus price target of $8.26.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $5.97 on Monday. The stock has a fifty day moving average price of $6.61 and a 200 day moving average price of $6.95. 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 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 P/E ratio of -0.68 and a beta of 1.12.

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 company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. Research analysts anticipate that The Goodyear Tire & Rubber Company will post -0.43 EPS for the current fiscal year.

Goodyear Tire & Rubber 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.