The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.0% during the first quarter, Holdings Channel.com reports. The firm owned 111,026 shares of the company’s stock after selling 4,617 shares during the period. Federated Hermes Inc.’s holdings in Goodyear Tire & Rubber were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Goodyear Tire & Rubber by 3.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 28,766 shares of the company’s stock worth $266,000 after purchasing an additional 932 shares during the last quarter. John G Ullman & Associates Inc. grew its position in Goodyear Tire & Rubber by 9.1% during the 1st quarter. John G Ullman & Associates Inc. now owns 18,000 shares of the company’s stock worth $166,000 after purchasing an additional 1,500 shares during the last quarter. Baird Financial Group Inc. grew its position in Goodyear Tire & Rubber by 15.1% during the 4th quarter. Baird Financial Group Inc. now owns 12,296 shares of the company’s stock worth $111,000 after purchasing an additional 1,617 shares during the last quarter. SummerHaven Investment Management LLC grew its position in Goodyear Tire & Rubber by 2.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 73,318 shares of the company’s stock worth $677,000 after purchasing an additional 1,621 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company’s stock worth $26,000 after purchasing an additional 1,674 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Price Performance

GT opened at $9.94 on Thursday. The company has a quick ratio of 0.64, a current ratio of 1.22 and a debt-to-equity ratio of 1.44. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $12.03. The company has a 50 day moving average of $10.86 and a two-hundred day moving average of $10.12. The company has a market cap of $2.84 billion, a P/E ratio of 11.83, a P/E/G ratio of 0.32 and a beta of 1.37.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.41 billion. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GT. JPMorgan Chase & Co. reissued an “overweight” rating and set a $17.00 price objective (down from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. BNP Paribas Exane raised shares of Goodyear Tire & Rubber from a “neutral” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Monday, June 9th. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Saturday, May 10th. Finally, BNP Paribas raised shares of Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of “Buy” and a consensus target price of $14.20.

Goodyear Tire & Rubber Profile

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.