The Goodyear Tire & Rubber Company $GT Shares Sold by Sei Investments Co.

Key Points

• Sei Investments Co. has reduced its stake in The Goodyear Tire & Rubber Company by 31.3%, selling 122,612 shares and owning 0.09% of the company valued at approximately $2.4 million after the sale.
• Goodyear reported a loss of ($0.17) EPS for the last quarter, falling short of analysts' expectations, with revenue declining 2.3% year-over-year.
• Institutional investors control 84.19% of Goodyear's stock, with several hedge funds recently increasing their positions in the company.

Sei Investments Co. cut its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 31.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,110 shares of the company's stock after selling 122,612 shares during the period. Sei Investments Co. owned 0.09% of Goodyear Tire & Rubber worth $2,439,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Goodyear Tire & Rubber by 1.9% in the 1st quarter. Victory Capital Management Inc. now owns 5,247,677 shares of the company's stock valued at $48,489,000 after purchasing an additional 99,933 shares during the last quarter. Northern Trust Corp increased its position in shares of Goodyear Tire & Rubber by 17.0% in the 4th quarter. Northern Trust Corp now owns 3,941,378 shares of the company's stock valued at $35,472,000 after purchasing an additional 573,541 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Goodyear Tire & Rubber by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,801,118 shares of the company's stock valued at $35,122,000 after purchasing an additional 62,499 shares during the last quarter. Invesco Ltd. increased its position in shares of Goodyear Tire & Rubber by 13.7% in the 4th quarter. Invesco Ltd. now owns 2,261,513 shares of the company's stock valued at $20,354,000 after purchasing an additional 272,771 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Goodyear Tire & Rubber in the 1st quarter valued at approximately $20,422,000. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Price Performance

NASDAQ:GT traded down $0.0650 during mid-day trading on Thursday, hitting $8.2250. 2,896,887 shares of the company's stock traded hands, compared to its average volume of 6,511,072. The company has a market cap of $2.35 billion, a PE ratio of 5.79, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The firm's 50 day simple moving average is $10.31 and its 200 day simple moving average is $10.08.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). The firm had revenue of $4.47 billion for the quarter, compared to analysts' expectations of $4.50 billion. Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on GT shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 11th. Hsbc Global Res cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Wednesday. BNP Paribas Exane restated a "neutral" rating and issued a $9.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, August 8th. BNP Paribas cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $17.00 target price (down previously from $18.00) on shares of Goodyear Tire & Rubber in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $12.25.

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.