Amalgamated Bank Sells 11,962 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Amalgamated Bank lessened its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 126,234 shares of the company’s stock after selling 11,962 shares during the period. Amalgamated Bank’s holdings in Goodyear Tire & Rubber were worth $1,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP increased its holdings in shares of Goodyear Tire & Rubber by 29.4% in the third quarter. Forum Financial Management LP now owns 13,457 shares of the company’s stock valued at $119,000 after purchasing an additional 3,058 shares in the last quarter. US Bancorp DE boosted its position in Goodyear Tire & Rubber by 20.9% in the 3rd quarter. US Bancorp DE now owns 18,281 shares of the company’s stock valued at $162,000 after buying an additional 3,163 shares during the last quarter. Strategic Blueprint LLC acquired a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at $132,000. Hedges Asset Management LLC increased its stake in shares of Goodyear Tire & Rubber by 54.2% in the 3rd quarter. Hedges Asset Management LLC now owns 97,000 shares of the company’s stock valued at $858,000 after buying an additional 34,100 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Goodyear Tire & Rubber by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock worth $290,000 after acquiring an additional 2,245 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Up 0.7 %

Shares of Goodyear Tire & Rubber stock opened at $9.49 on Thursday. The business has a fifty day simple moving average of $8.45 and a 200 day simple moving average of $10.11. The stock has a market cap of $2.70 billion, a PE ratio of -9.13 and a beta of 1.69. 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 12 month low of $7.27 and a 12 month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results 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. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. Research analysts predict that The Goodyear Tire & Rubber Company will post 1.08 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.