The Goodyear Tire & Rubber Company $GT Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 94.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,324 shares of the company’s stock after selling 299,419 shares during the period. PNC Financial Services Group Inc.’s holdings in Goodyear Tire & Rubber were worth $190,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Solstein Capital LLC acquired a new position in Goodyear Tire & Rubber in the second quarter valued at approximately $26,000. Ameritas Advisory Services LLC purchased a new stake in Goodyear Tire & Rubber in the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Goodyear Tire & Rubber by 3,894.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,796 shares of the company’s stock valued at $29,000 after purchasing an additional 2,726 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Goodyear Tire & Rubber during the 2nd quarter worth $31,000. Finally, Signaturefd LLC increased its position in shares of Goodyear Tire & Rubber by 125.6% during the 2nd quarter. Signaturefd LLC now owns 4,508 shares of the company’s stock worth $47,000 after purchasing an additional 2,510 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

GT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. BNP Paribas Exane reissued a “neutral” rating and issued a $9.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. Citigroup lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Zacks Research upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. decreased their price target on Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.36.

Goodyear Tire & Rubber Trading Up 0.2%

Shares of GT stock opened at $8.44 on Friday. The Goodyear Tire & Rubber Company has a fifty-two week low of $6.51 and a fifty-two week high of $12.03. The company has a 50 day moving average price of $7.51 and a 200 day moving average price of $9.21. The stock has a market capitalization of $2.42 billion, a P/E ratio of 5.94, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.16 by $0.12. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.67 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 EPS. Equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

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.