The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by J.P. Marvel Investment Advisors LLC

J.P. Marvel Investment Advisors LLC lowered its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.8% in the third quarter, Holdings Channel reports. The firm owned 75,812 shares of the company’s stock after selling 2,995 shares during the period. J.P. Marvel Investment Advisors LLC’s holdings in Goodyear Tire & Rubber were worth $671,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GT. Covestor Ltd increased its holdings in Goodyear Tire & Rubber by 33.6% during the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock worth $70,000 after purchasing an additional 1,284 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Goodyear Tire & Rubber by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after acquiring an additional 1,475 shares in the last quarter. Arizona State Retirement System grew its holdings in Goodyear Tire & Rubber by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock worth $903,000 after acquiring an additional 1,621 shares in the last quarter. Innealta Capital LLC raised its stake in shares of Goodyear Tire & Rubber by 12.2% in the 1st quarter. Innealta Capital LLC now owns 15,261 shares of the company’s stock valued at $210,000 after purchasing an additional 1,654 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of Goodyear Tire & Rubber by 5.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock worth $495,000 after purchasing an additional 1,925 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of “Moderate Buy” and a consensus target price of $17.23.

Goodyear Tire & Rubber Trading Up 3.4 %

Shares of NASDAQ:GT opened at $9.83 on Friday. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.80 billion, a PE ratio of -9.45 and a beta of 1.69. The company’s 50-day moving average price is $8.36 and its 200 day moving average price is $10.18.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.69% and a negative net margin of 1.56%. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.06 earnings per share for the current year.

About Goodyear Tire & Rubber

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.