ProShare Advisors LLC Sells 81,390 Shares of The Goodyear Tire & Rubber Company $GT
ProShare Advisors LLC reduced its stake in Goodyear Tire & Rubber Company by 55.1% in Q2, selling 81,390 shares. The stock opened at $7.43, with a 52-week range of $6.51-$12.03. Analysts have mixed ratings, with an average 'Hold' and target price of $11.36. Goodyear reported Q3 earnings of $0.28 per share, beating estimates.
ProShare Advisors LLC lessened its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 55.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,248 shares of the company's stock after selling 81,390 shares during the quarter. ProShare Advisors LLC's holdings in Goodyear Tire & Rubber were worth $687,000 at the end of the most recent quarter.
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A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Solstein Capital LLC bought a new stake in Goodyear Tire & Rubber during the second quarter valued at about $26,000. Ameritas Advisory Services LLC acquired a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth about $29,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Goodyear Tire & Rubber by 3,894.3% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company's stock worth $29,000 after purchasing an additional 2,726 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at approximately $31,000. Finally, Signaturefd LLC grew its holdings in Goodyear Tire & Rubber by 125.6% in the 2nd quarter. Signaturefd LLC now owns 4,508 shares of the company's stock valued at $47,000 after buying an additional 2,510 shares during the last quarter. Institutional investors and hedge funds own 84.19% of the company's stock.
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Goodyear Tire & Rubber Trading Down 1.7%
Shares of Goodyear Tire & Rubber stock opened at $7.43 on Tuesday. The Goodyear Tire & Rubber Company has a 52-week low of $6.51 and a 52-week high of $12.03. The firm has a market capitalization of $2.13 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The company's fifty day moving average price is $7.58 and its two-hundred day moving average price is $9.34.
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Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.12. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.67 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The firm's revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have commented on GT. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Goodyear Tire & Rubber in a research report on Thursday. Hsbc Global Res cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. BNP Paribas downgraded shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, BNP Paribas Exane reaffirmed a "neutral" rating and set a $9.00 price objective on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.36.
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View Our Latest Report on Goodyear Tire & Rubber
Goodyear Tire & Rubber Company Profile
(Free Report)Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.
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