The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,116 shares of the company’s stock after selling 1,925 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Goodyear Tire & Rubber were worth $489,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GT. Wellington Management Group LLP acquired a new position in Goodyear Tire & Rubber during the third quarter worth $125,650,000. Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth $66,842,000. Electron Capital Partners LLC purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth about $51,031,000. One Fin Capital Management LP purchased a new position in Goodyear Tire & Rubber in the third quarter valued at approximately $15,600,000. Finally, American Century Companies Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 24.9% during the 3rd quarter. American Century Companies Inc. now owns 4,774,601 shares of the company’s stock valued at $59,348,000 after acquiring an additional 953,047 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $11.28 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.60 and a current ratio of 1.15. The stock has a market capitalization of $3.21 billion, a P/E ratio of -4.99 and a beta of 1.77. The business’s fifty day moving average is $12.16 and its two-hundred day moving average is $12.93. The Goodyear Tire & Rubber Company has a 1 year low of $11.07 and a 1 year high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, May 6th. The company reported $0.10 earnings per share for the quarter. The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.29) earnings per share. On average, research analysts forecast that The Goodyear Tire & Rubber Company will post 1.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GT shares. HSBC lowered 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. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Finally, Morgan Stanley initiated 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 objective for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber 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.