Commonwealth Equity Services LLC Sells 10,747 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Commonwealth Equity Services LLC trimmed its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,581 shares of the company’s stock after selling 10,747 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Goodyear Tire & Rubber were worth $950,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GT. Fidelity D & D Bancorp Inc. lifted its holdings 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 worth $283,000 after acquiring an additional 1,000 shares during the last quarter. Truist Financial Corp increased its position in Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock worth $205,000 after purchasing an additional 1,115 shares in the last quarter. Amalgamated Bank lifted its stake in Goodyear Tire & Rubber by 0.9% in the 4th 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 during the last quarter. Sanctuary Advisors LLC boosted its position 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 buying an additional 1,209 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Goodyear Tire & Rubber by 4.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company’s stock worth $306,000 after buying an additional 1,434 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

Shares of GT opened at $8.94 on Wednesday. The business has a 50-day moving average of $9.18 and a 200-day moving average of $9.08. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 37.25 and a beta of 1.71. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.78.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Argus upgraded 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. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. TD Cowen assumed coverage on Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Monday. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.78.

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.