JPMorgan Chase & Co. Cuts Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

JPMorgan Chase & Co. trimmed its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 59.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GT. Sound Income Strategies LLC grew its stake in shares of Goodyear Tire & Rubber by 2,122.5% in the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company's stock worth $35,000 after acquiring an additional 3,778 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Goodyear Tire & Rubber in the 3rd quarter worth approximately $45,000. Private Trust Co. NA lifted its holdings in shares of Goodyear Tire & Rubber by 110.4% during the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company's stock valued at $62,000 after buying an additional 3,700 shares during the period. AM Squared Ltd purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth $92,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth $92,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GT has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.30.

Goodyear Tire & Rubber Stock Up 1.4 %

Shares of NASDAQ:GT traded up $0.12 on Tuesday, reaching $8.94. The company had a trading volume of 2,397,912 shares, compared to its average volume of 4,607,623. 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 $2.55 billion, a PE ratio of -8.60 and a beta of 1.80. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $14.97. The firm's 50 day simple moving average is $9.47 and its 200-day simple moving average is $9.29.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. Goodyear Tire & Rubber's revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 EPS. As a group, analysts expect that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company 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.