The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 59.8% in the second quarter, Holdings Channel.com reports. The fund owned 6,812 shares of the company’s stock after selling 10,129 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in Goodyear Tire & Rubber were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GT. Newbridge Financial Services Group Inc. acquired a new position in shares of Goodyear Tire & Rubber in the 4th quarter valued at $28,000. Family Firm Inc. acquired a new position in Goodyear Tire & Rubber in the second quarter valued at $26,000. Jones Financial Companies Lllp purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $33,000. Mather Group LLC. boosted its stake in shares of Goodyear Tire & Rubber by 4,526.3% during the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after buying an additional 2,580 shares during the period. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Goodyear Tire & Rubber during the second quarter worth about $40,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Up 5.0 %

NASDAQ:GT opened at $8.77 on Monday. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $15.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. The stock has a fifty day moving average price of $8.89 and a two-hundred day moving average price of $11.03. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -3.88 and a beta of 1.70.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter last year, the business earned ($0.34) earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.