Edgestream Partners L.P. Sells 342,614 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Edgestream Partners L.P. lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 54.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 291,463 shares of the company's stock after selling 342,614 shares during the period. Edgestream Partners L.P. owned about 0.10% of Goodyear Tire & Rubber worth $2,579,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its stake in Goodyear Tire & Rubber by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 163,218 shares of the company's stock worth $2,241,000 after buying an additional 6,795 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Goodyear Tire & Rubber by 41.6% in the 1st quarter. Tidal Investments LLC now owns 63,967 shares of the company's stock valued at $878,000 after purchasing an additional 18,790 shares during the period. Cetera Advisors LLC bought a new stake in shares of Goodyear Tire & Rubber during the 1st quarter valued at about $271,000. Boston Partners grew its stake in Goodyear Tire & Rubber by 3.2% during the first quarter. Boston Partners now owns 75,110 shares of the company's stock worth $1,031,000 after purchasing an additional 2,345 shares during the period. Finally, Mather Group LLC. increased its holdings in Goodyear Tire & Rubber by 4,526.3% in the second quarter. Mather Group LLC. now owns 2,637 shares of the company's stock worth $30,000 after purchasing an additional 2,580 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on GT. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th. StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ GT traded down $0.26 during mid-day trading on Tuesday, reaching $10.74. 6,490,063 shares of the company's stock were exchanged, compared to its average volume of 4,322,004. The firm has a 50-day moving average price of $8.95 and a two-hundred day moving average price of $9.84. 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 Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24.

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