Shelton Capital Management Sells 1,384 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Shelton Capital Management lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 11.4% during the 4th quarter, HoldingsChannel reports. The firm owned 10,738 shares of the company’s stock after selling 1,384 shares during the period. Shelton Capital Management’s holdings in Goodyear Tire & Rubber were worth $97,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GT. Norges Bank purchased a new stake in Goodyear Tire & Rubber in the fourth quarter valued at approximately $39,626,000. Truist Financial Corp raised its position in shares of Goodyear Tire & Rubber by 5.2% during the 4th quarter. Truist Financial Corp now owns 22,753 shares of the company’s stock valued at $205,000 after buying an additional 1,115 shares in the last quarter. Barclays PLC raised its position in shares of Goodyear Tire & Rubber by 158.6% during the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock valued at $8,635,000 after buying an additional 598,330 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 7,053,829 shares of the company’s stock worth $62,438,000 after acquiring an additional 86,227 shares during the last quarter. Finally, 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. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $9.67 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $13.26. The company has a market capitalization of $2.76 billion, a P/E ratio of 40.29 and a beta of 1.49. The stock has a 50 day moving average price of $9.23 and a two-hundred day moving average price of $9.15.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GT shares. Argus raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, February 18th. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. TD Cowen assumed 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 target on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Monday, March 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.78.

Goodyear Tire & Rubber Company 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.