Corient Private Wealth LLC Sells 5,600 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Corient Private Wealth LLC reduced its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,058 shares of the company’s stock after selling 5,600 shares during the period. Corient Private Wealth LLC’s holdings in Goodyear Tire & Rubber were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GT. Geode Capital Management LLC grew its stake in shares of Goodyear Tire & Rubber by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after buying an additional 86,227 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Goodyear Tire & Rubber by 8.3% in the 4th quarter. Victory Capital Management Inc. now owns 5,147,744 shares of the company’s stock valued at $46,330,000 after acquiring an additional 396,230 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Goodyear Tire & Rubber by 5.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,738,619 shares of the company’s stock worth $33,648,000 after acquiring an additional 205,629 shares in the last quarter. KLCM Advisors Inc. increased its stake in Goodyear Tire & Rubber by 59.4% during the fourth quarter. KLCM Advisors Inc. now owns 1,770,430 shares of the company’s stock worth $15,934,000 after acquiring an additional 659,635 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in Goodyear Tire & Rubber by 72.1% during the fourth quarter. Cibc World Market Inc. now owns 1,408,001 shares of the company’s stock valued at $12,672,000 after purchasing an additional 589,782 shares during the period. 84.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Monday. TD Cowen started coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a “buy” rating and a $14.00 price objective 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. Finally, Argus upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.78.

Goodyear Tire & Rubber Stock Performance

GT stock opened at $9.24 on Tuesday. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $13.78. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 38.50 and a beta of 1.71. The business’s fifty day simple moving average is $9.19 and its two-hundred day simple moving average is $9.07. The company has a quick ratio of 0.55, a current ratio of 1.04 and a debt-to-equity ratio of 1.30.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a net margin of 0.37% and a return on equity of 6.21%. Analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

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.