Wealth Enhancement Advisory Services LLC Lowers Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Wealth Enhancement Advisory Services LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 21.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 20,631 shares of the company’s stock after selling 5,784 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Goodyear Tire & Rubber were worth $183,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GT. Family Firm Inc. bought a new position in Goodyear Tire & Rubber during the second quarter valued at approximately $26,000. Mather Group LLC. lifted its holdings in shares of Goodyear Tire & Rubber by 4,526.3% in the 2nd quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock worth $30,000 after acquiring an additional 2,580 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Goodyear Tire & Rubber by 2,122.5% in the 3rd quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock valued at $35,000 after purchasing an additional 3,778 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new position in shares of Goodyear Tire & Rubber during the 2nd quarter valued at $40,000. Finally, MUFG Securities EMEA plc purchased a new position in Goodyear Tire & Rubber in the 2nd quarter worth $57,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $9.42 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.54 and a debt-to-equity ratio of 1.51. The company has a market cap of $2.68 billion, a price-to-earnings ratio of -9.06 and a beta of 1.69. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $15.24. The company has a 50-day moving average price of $8.42 and a 200-day moving average price of $10.11.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share 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 business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter last year, the business posted $0.36 EPS. The business’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.08 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GT shares. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and an average price target of $17.23.

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.