SeaCrest Wealth Management LLC purchased a new position in The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,553 shares of the company’s stock, valued at approximately $27,000.
A number of other large investors also recently bought and sold shares of GT. Ancora Advisors LLC increased its stake in Goodyear Tire & Rubber by 142.9% during the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in Goodyear Tire & Rubber during the 1st quarter worth approximately $59,000. Global Retirement Partners LLC increased its stake in Goodyear Tire & Rubber by 28.7% during the 2nd quarter. Global Retirement Partners LLC now owns 9,003 shares of the company’s stock worth $96,000 after buying an additional 2,009 shares in the last quarter. Signaturefd LLC increased its stake in Goodyear Tire & Rubber by 12.8% during the 1st quarter. Signaturefd LLC now owns 7,024 shares of the company’s stock worth $100,000 after buying an additional 796 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new stake in Goodyear Tire & Rubber during the 2nd quarter worth approximately $108,000. Institutional investors and hedge funds own 80.88% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on GT shares. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 2nd. Citigroup dropped their price target on Goodyear Tire & Rubber from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Goodyear Tire & Rubber from $14.00 to $10.00 in a research report on Wednesday, November 2nd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.19.
Goodyear Tire & Rubber Stock Performance
Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) last issued its quarterly earnings data on Monday, October 31st. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.21). The business had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $5.34 billion. Goodyear Tire & Rubber had a return on equity of 9.74% and a net margin of 4.19%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, research analysts predict that The Goodyear Tire & Rubber Company will post 1.44 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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving equipment, and mining and industrial equipment under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.
- Get a free copy of the StockNews.com research report on Goodyear Tire & Rubber (GT)
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