National Bank of Canada FI Reduces Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

National Bank of Canada FI lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 25.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 54,742 shares of the company’s stock after selling 18,724 shares during the period. National Bank of Canada FI’s holdings in Goodyear Tire & Rubber were worth $777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GT. Raymond James Financial Services Advisors Inc. boosted its position in shares of Goodyear Tire & Rubber by 29.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 31,282 shares of the company’s stock valued at $389,000 after acquiring an additional 7,179 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Goodyear Tire & Rubber by 16.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 69,427 shares of the company’s stock valued at $863,000 after purchasing an additional 9,589 shares during the last quarter. Advisor Partners II LLC lifted its position in Goodyear Tire & Rubber by 8.9% in the third quarter. Advisor Partners II LLC now owns 13,743 shares of the company’s stock valued at $171,000 after buying an additional 1,127 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Goodyear Tire & Rubber by 30.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 14,641 shares of the company’s stock worth $182,000 after buying an additional 3,375 shares during the period. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Goodyear Tire & Rubber during the third quarter valued at about $202,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $13.05 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.15 and a quick ratio of 0.60. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -5.77 and a beta of 1.86. The stock’s 50-day moving average is $12.64 and its two-hundred day moving average is $13.19. The Goodyear Tire & Rubber Company has a 1-year low of $11.26 and a 1-year high of $16.50.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its earnings results on Monday, May 6th. The company reported $0.10 EPS for the quarter. The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. Analysts forecast that The Goodyear Tire & Rubber Company will post 1.24 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on GT. StockNews.com raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday. HSBC decreased their target price on Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.98.

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.