Profund Advisors LLC Sells 1,303 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Profund Advisors LLC lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,058 shares of the company’s stock after selling 1,303 shares during the period. Profund Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Retirement Systems of Alabama boosted its position in Goodyear Tire & Rubber by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 356,065 shares of the company’s stock valued at $4,889,000 after buying an additional 935 shares during the period. Covestor Ltd grew its stake in Goodyear Tire & Rubber by 33.6% in the first quarter. Covestor Ltd now owns 5,108 shares of the company’s stock worth $70,000 after purchasing an additional 1,284 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Goodyear Tire & Rubber by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after purchasing an additional 1,475 shares during the period. State of Michigan Retirement System raised its position in Goodyear Tire & Rubber by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 69,626 shares of the company’s stock valued at $956,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Goodyear Tire & Rubber by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock worth $903,000 after buying an additional 1,621 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

GT has been the subject of several recent research reports. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Morgan Stanley began coverage on shares of Goodyear Tire & Rubber in a report on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price target for the company. Finally, Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Stock Up 5.0 %

Shares of Goodyear Tire & Rubber stock opened at $8.77 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.50 billion, a P/E ratio of -3.88 and a beta of 1.70. The firm’s 50 day moving average price is $8.89 and its 200-day moving average price is $11.03. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. Goodyear Tire & Rubber had a positive return on equity of 6.55% and a negative net margin of 1.82%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the firm posted ($0.34) earnings per share. The business’s quarterly revenue was down 6.1% on a year-over-year basis. On average, sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.