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

Net Worth Advisory Group cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 41.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 institutional investors have also recently modified their holdings of GT. Allworth Financial LP lifted its stake in Goodyear Tire & Rubber by 251.8% during the fourth quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after purchasing an additional 3,059 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Goodyear Tire & Rubber in the third quarter valued at about $45,000. Newbridge Financial Services Group Inc. acquired a new position in Goodyear Tire & Rubber during the fourth quarter worth about $54,000. Private Trust Co. NA lifted its holdings in shares of Goodyear Tire & Rubber by 110.4% in the third quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $79,000. 84.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $9.38 on Wednesday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 39.08 and a beta of 1.71. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.86. The stock has a fifty day simple moving average of $9.13 and a 200 day simple moving average of $8.98. 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 issued 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. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

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.