The Goodyear Tire & Rubber Company $GT Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 91.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,954 shares of the company’s stock after selling 352,910 shares during the period. Pacer Advisors Inc.’s holdings in Goodyear Tire & Rubber were worth $218,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GT. Bastion Asset Management Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 72.9% in the 4th quarter. Bastion Asset Management Inc. now owns 963,938 shares of the company’s stock worth $8,076,000 after acquiring an additional 406,410 shares during the last quarter. Readystate Asset Management LP lifted its stake in Goodyear Tire & Rubber by 45.8% during the first quarter. Readystate Asset Management LP now owns 2,606,350 shares of the company’s stock worth $17,280,000 after purchasing an additional 818,588 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Goodyear Tire & Rubber by 144.6% during the first quarter. Hsbc Holdings PLC now owns 430,136 shares of the company’s stock worth $2,798,000 after buying an additional 254,305 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Goodyear Tire & Rubber by 8.9% in the first quarter. Dimensional Fund Advisors LP now owns 16,558,938 shares of the company’s stock valued at $109,778,000 after buying an additional 1,352,085 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Goodyear Tire & Rubber by 113.5% in the 1st quarter. SG Americas Securities LLC now owns 1,447,677 shares of the company’s stock valued at $9,598,000 after buying an additional 769,710 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the subject of several research reports. Wall Street Zen raised Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday. Citigroup cut their target price on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.47.

Goodyear Tire & Rubber Stock Performance

Shares of Goodyear Tire & Rubber stock opened at $6.09 on Wednesday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -0.69 and a beta of 1.12. The firm’s fifty day simple moving average is $6.59 and its 200-day simple moving average is $7.15. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.09 and a quick ratio of 0.55. The Goodyear Tire & Rubber Company has a 12 month low of $5.43 and a 12 month high of $10.62.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, August 5th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. Goodyear Tire & Rubber had a negative net margin of 14.37% and a negative return on equity of 2.95%. The business had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.19 billion. During the same period in the prior year, the company earned ($0.17) earnings per share. The business’s revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts forecast 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.