The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Quent Capital LLC

Quent Capital LLC trimmed its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 13.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,400 shares of the company’s stock after selling 8,000 shares during the period. Quent Capital LLC’s holdings in Goodyear Tire & Rubber were worth $731,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Holdings Inc. grew its position in shares of Goodyear Tire & Rubber by 1,498.4% during the 1st quarter. Nomura Holdings Inc. now owns 9,729,800 shares of the company’s stock valued at $107,222,000 after acquiring an additional 9,121,084 shares during the period. UBS Group AG increased its position in shares of Goodyear Tire & Rubber by 453.8% in the first quarter. UBS Group AG now owns 5,958,198 shares of the company’s stock valued at $65,659,000 after buying an additional 4,882,402 shares in the last quarter. BlackRock Inc. raised its stake in shares of Goodyear Tire & Rubber by 7.6% during the 1st quarter. BlackRock Inc. now owns 35,767,231 shares of the company’s stock worth $511,113,000 after buying an additional 2,528,942 shares during the period. Norges Bank purchased a new position in shares of Goodyear Tire & Rubber during the 4th quarter valued at approximately $18,272,000. Finally, Renaissance Technologies LLC lifted its position in shares of Goodyear Tire & Rubber by 161.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,809,754 shares of the company’s stock valued at $28,519,000 after buying an additional 1,733,700 shares in the last quarter. 80.05% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Up 0.7 %

Shares of NASDAQ GT traded up $0.09 during midday trading on Friday, hitting $12.80. 3,836,989 shares of the company’s stock were exchanged, compared to its average volume of 4,536,093. The firm’s fifty day simple moving average is $13.83 and its 200-day simple moving average is $12.71. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.28 and a quick ratio of 0.65. The company has a market cap of $3.63 billion, a PE ratio of -9.92 and a beta of 1.81. The Goodyear Tire & Rubber Company has a twelve month low of $9.66 and a twelve month high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.49). Goodyear Tire & Rubber had a negative return on equity of 0.80% and a negative net margin of 1.80%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $5.21 billion. During the same quarter in the prior year, the business earned $0.46 earnings per share. Goodyear Tire & Rubber’s revenue was down 6.6% compared to the same quarter last year. Research analysts predict that The Goodyear Tire & Rubber Company will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GT shares. StockNews.com assumed coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on Goodyear Tire & Rubber from $10.00 to $13.00 in a research report on Wednesday, May 24th. Finally, JPMorgan Chase & Co. raised their price objective on Goodyear Tire & Rubber from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, July 20th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.60.

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 tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Debica, Sava, Fulda, Mastercraft, Roadmaster, and various other house brands, as well as under the private-label brands.