American International Group Inc. Sells 8,868 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

American International Group Inc. lessened its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 1.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 511,860 shares of the company’s stock after selling 8,868 shares during the quarter. American International Group Inc. owned approximately 0.18% of Goodyear Tire & Rubber worth $7,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $276,000. Assenagon Asset Management S.A. lifted its holdings in shares of Goodyear Tire & Rubber by 880.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 571,124 shares of the company’s stock worth $8,178,000 after buying an additional 512,875 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $298,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Goodyear Tire & Rubber by 3.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 126,763 shares of the company’s stock worth $1,815,000 after buying an additional 4,163 shares during the period. Finally, Cerity Partners LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $156,000. Institutional investors own 84.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GT shares. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Thursday, May 16th. HSBC decreased their price objective on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Morgan Stanley initiated coverage on Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Stock Down 1.4 %

Shares of NASDAQ:GT opened at $11.82 on Friday. The business’s 50-day moving average is $11.73 and its 200 day moving average is $12.47. The Goodyear Tire & Rubber Company has a 1 year low of $10.60 and a 1 year high of $16.50. The company has a quick ratio of 0.60, a current ratio of 1.15 and a debt-to-equity ratio of 1.56.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. Goodyear Tire & Rubber had a positive return on equity of 3.41% and a negative net margin of 3.28%. The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company posted ($0.29) EPS. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.21 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.