BW Gestao de Investimentos Ltda. Sells 1,901,635 Shares of The Goodyear Tire & Rubber Company $GT

BW Gestao de Investimentos Ltda. lowered its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 87.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,801 shares of the company’s stock after selling 1,901,635 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Goodyear Tire & Rubber were worth $2,337,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Goodyear Tire & Rubber by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 169,601 shares of the company’s stock valued at $1,567,000 after acquiring an additional 7,453 shares in the last quarter. United Services Automobile Association acquired a new stake in Goodyear Tire & Rubber in the 1st quarter valued at $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Goodyear Tire & Rubber by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 657,411 shares of the company’s stock valued at $6,074,000 after purchasing an additional 15,064 shares during the period. Envestnet Asset Management Inc. grew its position in Goodyear Tire & Rubber by 6.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after purchasing an additional 1,011 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Goodyear Tire & Rubber by 23.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 15,060 shares of the company’s stock valued at $156,000 after purchasing an additional 2,855 shares during the period. Institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $7.00 price target (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 17th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $10.00 price target on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Citigroup cut their price objective on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Finally, TD Cowen cut their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $8.54.

Goodyear Tire & Rubber Trading Down 1.0%

Shares of GT opened at $5.90 on Wednesday. The business’s 50-day moving average price is $6.52 and its 200-day moving average price is $7.90. The Goodyear Tire & Rubber Company has a twelve month low of $5.43 and a twelve month high of $12.03. The stock has a market cap of $1.70 billion, a PE ratio of -0.81 and a beta of 1.12. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The company’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. On average, equities analysts forecast that The Goodyear Tire & Rubber Company will post -0.32 EPS for the current fiscal year.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.