Edgestream Partners L.P. Sells 89,006 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Edgestream Partners L.P. decreased its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 30.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,457 shares of the company’s stock after selling 89,006 shares during the quarter. Edgestream Partners L.P. owned about 0.07% of Goodyear Tire & Rubber worth $1,822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GT. Allworth Financial LP raised its holdings in Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company’s stock worth $40,000 after buying an additional 3,059 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Newbridge Financial Services Group Inc. acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $54,000. Private Trust Co. NA raised its holdings in Goodyear Tire & Rubber by 110.4% during the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after buying an additional 3,700 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Goodyear Tire & Rubber during the 4th quarter worth approximately $79,000. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 1.2 %

GT stock opened at $9.67 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The company has a fifty day moving average price of $9.12 and a two-hundred day moving average price of $8.98. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $13.86. The stock has a market cap of $2.76 billion, a price-to-earnings ratio of 40.29 and a beta of 1.71.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. The firm had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.91 billion. Equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. Finally, TD Cowen began coverage on shares of Goodyear Tire & Rubber in a report on Friday. They issued a “buy” rating and a $14.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.18.

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.