Stifel Financial Corp Sells 7,411 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Stifel Financial Corp trimmed its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 32.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 15,320 shares of the company’s stock after selling 7,411 shares during the quarter. Stifel Financial Corp’s holdings in Goodyear Tire & Rubber were worth $136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Texas Permanent School Fund Corp increased its stake in shares of Goodyear Tire & Rubber by 0.6% in the second quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company’s stock worth $2,833,000 after purchasing an additional 1,475 shares in the last quarter. Arizona State Retirement System grew its stake in Goodyear Tire & Rubber by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company’s stock valued at $903,000 after buying an additional 1,621 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in Goodyear Tire & Rubber by 6.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 38,050 shares of the company’s stock valued at $336,000 after acquiring an additional 2,195 shares during the period. State of Alaska Department of Revenue raised its holdings in Goodyear Tire & Rubber by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company’s stock valued at $290,000 after acquiring an additional 2,245 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Goodyear Tire & Rubber by 2.0% in the second quarter. Commonwealth Equity Services LLC now owns 114,861 shares of the company’s stock worth $1,304,000 after acquiring an additional 2,262 shares during the period. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Down 1.0 %

Shares of GT stock opened at $8.76 on Tuesday. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $14.97. The business’s fifty day moving average is $9.36 and its 200 day moving average is $9.48. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The company has a market capitalization of $2.50 billion, a PE ratio of -8.42 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.12. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. On average, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on GT. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research note on Friday, December 20th. StockNews.com lowered Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Finally, Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $13.30.

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.