JPMorgan Chase & Co. Has $8.60 Million Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

JPMorgan Chase & Co. cut its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 59.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 971,766 shares of the company’s stock after selling 1,447,739 shares during the quarter. JPMorgan Chase & Co. owned about 0.34% of Goodyear Tire & Rubber worth $8,600,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its stake in shares of 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. Fidelity D & D Bancorp Inc. raised its stake 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 purchasing an additional 1,000 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Goodyear Tire & Rubber by 11.0% in the third quarter. Franklin Resources Inc. now owns 135,131 shares of the company’s stock valued at $1,139,000 after purchasing an additional 13,349 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Goodyear Tire & Rubber in the third quarter valued at $45,000. Finally, Geode Capital Management LLC raised its stake in shares of Goodyear Tire & Rubber by 1.2% in the third quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock valued at $62,438,000 after purchasing an additional 86,227 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GT shares. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Friday, December 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.30.

Goodyear Tire & Rubber Trading Down 0.5 %

NASDAQ:GT opened at $8.82 on Tuesday. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year high of $14.97. The business’s 50-day moving average price is $9.47 and its two-hundred day moving average price is $9.29. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -8.48 and a beta of 1.80.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The firm had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. On average, equities analysts expect that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current year.

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.