The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Aviso Wealth Management

Aviso Wealth Management trimmed its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 38.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,753 shares of the company’s stock after selling 45,533 shares during the period. Aviso Wealth Management’s holdings in Goodyear Tire & Rubber were worth $635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd lifted its stake in shares of Goodyear Tire & Rubber by 33.6% in the 1st quarter. Covestor Ltd now owns 5,108 shares of the company’s stock valued at $70,000 after purchasing an additional 1,284 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of Goodyear Tire & Rubber by 0.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock valued at $2,833,000 after purchasing an additional 1,475 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Goodyear Tire & Rubber by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock valued at $903,000 after purchasing an additional 1,621 shares in the last quarter. Innealta Capital LLC lifted its stake in shares of Goodyear Tire & Rubber by 12.2% in the 1st quarter. Innealta Capital LLC now owns 15,261 shares of the company’s stock valued at $210,000 after purchasing an additional 1,654 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of Goodyear Tire & Rubber by 5.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 36,041 shares of the company’s stock valued at $495,000 after purchasing an additional 1,925 shares in the last quarter. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GT has been the topic of several analyst reports. StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Wolfe Research downgraded Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th.

Goodyear Tire & Rubber Price Performance

GT stock opened at $9.27 on Monday. The company has a quick ratio of 0.65, a current ratio of 1.14 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. The stock’s 50 day moving average is $8.50 and its two-hundred day moving average is $10.06. The company has a market capitalization of $2.64 billion, a PE ratio of -8.91 and a beta of 1.69.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the previous year, the business earned $0.36 EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 6.2% compared to the same quarter last year. Analysts predict that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current fiscal 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.