Net Worth Advisory Group Sells 8,588 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Net Worth Advisory Group reduced its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 41.3% in the fourth quarter, HoldingsChannel reports. The firm owned 12,216 shares of the company’s stock after selling 8,588 shares during the period. Net Worth Advisory Group’s holdings in Goodyear Tire & Rubber were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its stake in shares of Goodyear Tire & Rubber by 9.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 22,927 shares of the company’s stock valued at $206,000 after acquiring an additional 1,926 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in Goodyear Tire & Rubber in the fourth quarter valued at $90,000. Raymond James Financial Inc. acquired a new position in shares of Goodyear Tire & Rubber during the fourth quarter valued at about $193,000. Proficio Capital Partners LLC bought a new position in shares of Goodyear Tire & Rubber during the 4th quarter worth about $213,000. Finally, M&T Bank Corp grew its stake in shares of Goodyear Tire & Rubber by 14.1% in the 4th quarter. M&T Bank Corp now owns 50,687 shares of the company’s stock valued at $456,000 after buying an additional 6,257 shares during the period. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Down 3.0 %

Shares of NASDAQ:GT opened at $9.38 on Wednesday. The business’s 50 day moving average is $9.13 and its 200 day moving average is $8.98. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $13.86. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 39.08 and a beta of 1.71. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. On average, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on GT. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They set a “buy” rating and a $14.00 price target on the stock. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Argus raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.18.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.