Advisory Services Network LLC Sells 34,767 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Advisory Services Network LLC cut its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 46.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,710 shares of the company's stock after selling 34,767 shares during the quarter. Advisory Services Network LLC's holdings in Goodyear Tire & Rubber were worth $357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GT. Truist Financial Corp raised its holdings in shares of Goodyear Tire & Rubber by 5.2% during the 4th 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 lifted its position in shares of Goodyear Tire & Rubber by 0.9% in the fourth quarter. Amalgamated Bank now owns 127,390 shares of the company's stock worth $1,147,000 after buying an additional 1,156 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Goodyear Tire & Rubber by 11.3% during the 4th quarter. Sanctuary Advisors LLC now owns 11,901 shares of the company's stock worth $110,000 after acquiring an additional 1,209 shares in the last quarter. Barnett & Company Inc. increased its holdings in shares of Goodyear Tire & Rubber by 1.4% during the 4th quarter. Barnett & Company Inc. now owns 95,700 shares of the company's stock valued at $861,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Harbour Investments Inc. raised its stake in shares of Goodyear Tire & Rubber by 19.0% in the 4th quarter. Harbour Investments Inc. now owns 8,754 shares of the company's stock valued at $79,000 after acquiring an additional 1,399 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GT has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research note on Monday, March 31st. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective on the stock in a research note on Tuesday, February 18th. TD Cowen initiated coverage on Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a "buy" rating and a $14.00 target price on the stock. Finally, StockNews.com raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Goodyear Tire & Rubber has a consensus rating of "Moderate Buy" and a consensus price target of $13.78.

Goodyear Tire & Rubber Trading Up 4.5 %

Shares of GT stock traded up $0.45 on Tuesday, hitting $10.38. The stock had a trading volume of 2,511,347 shares, compared to its average volume of 5,035,454. The firm has a market cap of $2.96 billion, a P/E ratio of 43.27 and a beta of 1.49. 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 fifty day moving average price of $9.38 and a two-hundred day moving average price of $9.20. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.26.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $4.95 billion during the quarter, compared to analyst estimates 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, analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.