Point72 Asia Singapore Pte. Ltd. Sells 10,129 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 59.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,812 shares of the company’s stock after selling 10,129 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Goodyear Tire & Rubber were worth $77,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Family Firm Inc. purchased a new position in shares of Goodyear Tire & Rubber in the 2nd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. purchased a new position in Goodyear Tire & Rubber during the fourth quarter worth $28,000. Mather Group LLC. increased its position in Goodyear Tire & Rubber by 4,526.3% during the second quarter. Mather Group LLC. now owns 2,637 shares of the company’s stock valued at $30,000 after acquiring an additional 2,580 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at $33,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter valued at $40,000. Institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GT shares. Morgan Stanley assumed coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an “equal weight” rating and a $14.00 price target for the company. Wolfe Research lowered Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. Finally, StockNews.com downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Moderate Buy” and an average price target of $17.23.

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $8.53 on Friday. The company has a market cap of $2.43 billion, a PE ratio of -3.77 and a beta of 1.69. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.54 and a current ratio of 1.06. The firm’s 50 day moving average price is $8.62 and its 200-day moving average price is $10.94. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the company earned ($0.34) earnings per share. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Goodyear Tire & Rubber 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.