IPG Investment Advisors LLC Sells 299,925 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

IPG Investment Advisors LLC trimmed its stake in The Goodyear Tire & Rubber Company (NASDAQ:GTFree Report) by 32.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 631,372 shares of the company’s stock after selling 299,925 shares during the quarter. Goodyear Tire & Rubber comprises about 1.8% of IPG Investment Advisors LLC’s holdings, making the stock its 17th biggest position. IPG Investment Advisors LLC owned 0.22% of Goodyear Tire & Rubber worth $9,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GT. Headinvest LLC purchased a new stake in shares of Goodyear Tire & Rubber in the third quarter worth approximately $34,000. American Trust bought a new position in Goodyear Tire & Rubber during the 3rd quarter valued at $140,000. Pathstone Family Office LLC purchased a new position in Goodyear Tire & Rubber during the 3rd quarter worth $141,000. Forum Financial Management LP bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $149,000. Finally, Cerity Partners LLC purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $156,000. 84.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GT shares. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. HSBC decreased their price target on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating for the company in a research note on Wednesday, May 8th.

View Our Latest Analysis on Goodyear Tire & Rubber

Goodyear Tire & Rubber Price Performance

NASDAQ:GT traded up $0.12 during trading hours on Monday, hitting $12.34. 1,277,400 shares of the company’s stock traded hands, compared to its average volume of 3,554,035. The Goodyear Tire & Rubber Company has a 52 week low of $11.26 and a 52 week high of $16.50. The business’s fifty day simple moving average is $12.66 and its two-hundred day simple moving average is $13.21. The company has a quick ratio of 0.60, a current ratio of 1.15 and a debt-to-equity ratio of 1.56. The firm has a market cap of $3.51 billion, a P/E ratio of -5.46 and a beta of 1.86.

Goodyear Tire & Rubber (NASDAQ:GTGet Free Report) last announced its earnings results on Monday, May 6th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.78 billion. Goodyear Tire & Rubber had a negative net margin of 3.28% and a positive return on equity of 3.41%. Goodyear Tire & Rubber’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.29) earnings per share. On average, research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.27 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Goodyear Tire & Rubber (NASDAQ:GT)

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