Edgestream Partners L.P. Sells 89,006 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Edgestream Partners L.P. lessened its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 30.5% in the fourth quarter, HoldingsChannel reports. The fund owned 202,457 shares of the company’s stock after selling 89,006 shares during the period. Edgestream Partners L.P.’s holdings in Goodyear Tire & Rubber were worth $1,822,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Fidelity D & D Bancorp Inc. boosted its position in shares of Goodyear Tire & Rubber by 3.2% in the third quarter. Fidelity D & D Bancorp Inc. now owns 32,000 shares of the company’s stock valued at $283,000 after acquiring an additional 1,000 shares during the period. Truist Financial Corp raised its stake in Goodyear Tire & Rubber by 5.2% in the fourth quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after purchasing an additional 1,115 shares in the last quarter. Amalgamated Bank raised its stake in Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company’s stock valued at $1,147,000 after purchasing an additional 1,156 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Goodyear Tire & Rubber by 11.3% in the fourth quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company’s stock valued at $110,000 after purchasing an additional 1,209 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in Goodyear Tire & Rubber by 4.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company’s stock valued at $306,000 after purchasing an additional 1,434 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Down 1.2 %

Shares of NASDAQ GT opened at $9.67 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 40.29 and a beta of 1.71. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.86. The stock has a 50-day moving average price of $9.12 and a two-hundred day moving average price of $8.98.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research note on Friday. They issued a “buy” rating and a $14.00 price target for the company. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and an average target price of $13.18.

Goodyear Tire & Rubber 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.