CenterBook Partners LP Sells 825,690 Shares of The Goodyear Tire & Rubber Company $GT

CenterBook Partners LP lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 40.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,215,102 shares of the company’s stock after selling 825,690 shares during the period. CenterBook Partners LP’s holdings in Goodyear Tire & Rubber were worth $10,644,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 buying an additional 7,453 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at $163,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of 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 buying an additional 15,064 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of 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 buying an additional 1,011 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of 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 buying an additional 2,855 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Goodyear Tire & Rubber Price Performance

GT stock opened at $5.71 on Monday. The stock has a 50-day moving average price of $6.47 and a two-hundred day moving average price of $7.84. The Goodyear Tire & Rubber Company has a 1 year low of $5.43 and a 1 year high of $12.03. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The stock has a market cap of $1.64 billion, a PE ratio of -0.79 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on GT shares. Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $7.00 price objective (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Zacks Research cut Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Finally, Citigroup lowered their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $8.54.

Goodyear Tire & Rubber Profile

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.