Goodyear Tire & Rubber Company (GT) Stake Cut by Gerstein Fisher

Aubrey Yates
January 13, 2018

The Goodyear Tire & Rubber Company (GT) has had a 20-day average volume of 2,525,795 shares, with an average of 80% of short term indicators pointed at Buy. The company has market cap of $27.04 billion.

The stock decreased 0.53% or $0.23 during the last trading session, reaching $43.54. About 2.31M shares traded.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its earnings results on Friday, October 27th. It has outperformed by 0.56% the S&P500. 23,530 were accumulated by Asset Management. Icm Asset Management Inc bought 57,607 shares as the company's stock declined 15.84% while stock markets rallied. Wedge Capital Management L L P NC now owns 2,627,326 shares of the company's stock valued at $67,417,000 after buying an additional 856,168 shares during the last quarter. A higher ROA compared to peers in the same industry, would suggest that company management is able to effectively generate profits from their assets. The stock increased 2.71% or $2.375 during the last trading session, reaching $89.945. About 667,618 shares traded. (KF) has risen 32.86% since January 12, 2017 and is uptrending. It has outperformed by 0.56% the S&P500. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.03. Pinnacle Foods Inc had 33 analyst reports since October 19, 2015 according to SRatingsIntel. (NYSE:PF) has "Buy" rating given on Friday, July 28 by BMO Capital Markets. Goldman Sachs downgraded the shares of GT in report on Thursday, March 30 to "Neutral" rating. Stifel Nicolaus maintained it with "Buy" rating and $63.0 target in Monday, September 18 report. RBC Capital Markets has "Buy" rating and $66.0 target. The ERP5 Rank is an investment tool that analysts use to discover undervalued companies.

Several brokerages recently weighed in on GT.

Since August 15, 2017, it had 0 buys, and 4 insider sales for $507,858 activity. McClellan Stephen R had sold 212 shares worth $6,355 on Thursday, August 24.

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Investors sentiment decreased to 1.04 in 2017 Q3. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%.

Other hedge funds also recently added to or reduced their stakes in the company.

Nj State Employees Deferred Compensation Plan holds 0.06% or 10,000 shares. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.37 and a quick ratio of 0.76. Cibc Ww Inc has 0% invested in The Goodyear Tire & Rubber Company (NASDAQ:GT). Nordea Mngmt Ab accumulated 0.01% or 95,576 shares. Dekabank Deutsche Girozentrale reported 108,269 shares or 0.03% of all its holdings. Wealth Enhancement Advisory Svcs Limited owns 27,548 shares or 0.07% of their USA portfolio.

Meanwhile, during the same quarter The Goodyear Tire & Rubber Company (GT) delivered a 3.89% earnings surprise. Huntington Bancorp holds 5,752 shares. Davidson Kempner Capital Management Lp sold 195,311 shares as Pinnacle Foods Inc Del (PF)'s stock rose 8.46%. Advsrs Cap Mgmt Limited holds 0.4% in The Goodyear Tire & Rubber Company (NASDAQ:GT) or 149,336 shares. Evercore Trust Na reported 3.21 million shares or 0.31% of all its holdings. Dupont Mgmt holds 86,491 shares or 0.07% of its portfolio. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Therefore 58% are positive. The stock of The Goodyear Tire & Rubber Company (NASDAQ:GT) has "Buy" rating given on Friday, July 28 by Jefferies. ValuEngine raised Goodyear Tire & Rubber from a "buy" rating to a "strong-buy" rating in a report on Friday, December 1st. The rating was upgraded by Morgan Stanley on Thursday, June 1 to "Overweight". The stock has "Hold" rating by Jefferies on Friday, February 24. Goldman Sachs maintained The Goodyear Tire & Rubber Company (NASDAQ:GT) on Tuesday, August 1 with "Hold" rating. Envestnet Asset Mngmt invested 0% in The Goodyear Tire & Rubber Company (NASDAQ:GT). Andra Ap stated it has 0.08% in The Goodyear Tire & Rubber Company (NASDAQ:GT). The rating was upgraded by KeyBanc Capital Markets on Thursday, April 7 to "Overweight". The rating was initiated by Berenberg with "Buy" on Tuesday, November 22. The stock has a consensus rating of "Hold" and a consensus price target of $37.70.

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