The Goodyear Tire & Rubber Company $GT Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 5.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,375 shares of the company’s stock after selling 9,772 shares during the quarter. Bank of Montreal Can’s holdings in Goodyear Tire & Rubber were worth $1,860,000 at the end of the most recent reporting period.

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

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $7.59 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The Goodyear Tire & Rubber Company has a 1-year low of $6.51 and a 1-year high of $12.03. The business’s 50-day simple moving average is $7.62 and its 200-day simple moving average is $9.41. The firm has a market capitalization of $2.17 billion, a P/E ratio of 5.35, a P/E/G ratio of 2.35 and a beta of 1.32.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.12. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the prior year, the business earned $0.37 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Wednesday, October 8th. BNP Paribas lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a report on Friday, August 8th. BNP Paribas Exane restated a “neutral” rating and set a $9.00 target price on shares of Goodyear Tire & Rubber in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Goodyear Tire & Rubber from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Finally, Zacks Research upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.36.

About Goodyear Tire & Rubber

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.