Schonfeld Strategic Advisors LLC Decreases Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Schonfeld Strategic Advisors LLC cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 62.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,718 shares of the company's stock after selling 46,742 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Goodyear Tire & Rubber were worth $249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP increased its position in shares of Goodyear Tire & Rubber by 251.8% during the 4th quarter. Allworth Financial LP now owns 4,274 shares of the company's stock worth $40,000 after purchasing an additional 3,059 shares during the last quarter. Signaturefd LLC increased its position in shares of Goodyear Tire & Rubber by 61.2% during the 4th quarter. Signaturefd LLC now owns 5,259 shares of the company's stock worth $47,000 after purchasing an additional 1,997 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $54,000. Transce3nd LLC acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $61,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Goodyear Tire & Rubber during the 4th quarter worth about $79,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Goodyear Tire & Rubber Stock Down 2.4%

Shares of GT traded down $0.27 during midday trading on Friday, hitting $10.77. The company had a trading volume of 6,251,501 shares, compared to its average volume of 5,244,291. The company's 50-day simple moving average is $9.93 and its 200-day simple moving average is $9.52. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The firm has a market capitalization of $3.07 billion, a P/E ratio of 44.88 and a beta of 1.42. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $13.11.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 EPS. As a group, sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

GT has been the subject of a number of recent analyst reports. Argus raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price objective for the company in a research report on Tuesday, February 18th. TD Cowen initiated coverage on Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 price objective for the company. StockNews.com downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Finally, Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 target price for the company in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of "Moderate Buy" and an average target price of $13.25.

Goodyear Tire & Rubber 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.