Voya Investment Management LLC Sells 64,327 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Voya Investment Management LLC lowered its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,111 shares of the company's stock after selling 64,327 shares during the period. Voya Investment Management LLC's holdings in Goodyear Tire & Rubber were worth $766,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GT. Allworth Financial LP grew its stake in shares of Goodyear Tire & Rubber by 251.8% during the fourth 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 period. Wilmington Savings Fund Society FSB bought a new position in Goodyear Tire & Rubber during the third quarter worth about $45,000. Signaturefd LLC grew 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 buying an additional 1,997 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $54,000. Finally, Transce3nd LLC bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter valued at about $61,000. Institutional investors own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GT. Argus upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 price target for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft upgraded Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. StockNews.com downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday. Finally, TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research note on Friday, March 7th. They issued a "buy" rating and a $14.00 price target on the stock. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Goodyear Tire & Rubber currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.25.

Goodyear Tire & Rubber Stock Down 0.5%

Shares of Goodyear Tire & Rubber stock traded down $0.06 during trading on Tuesday, reaching $10.91. The stock had a trading volume of 1,777,762 shares, compared to its average volume of 5,186,106. The company has a current ratio of 1.04, a quick ratio of 0.55 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $3.11 billion, a price-to-earnings ratio of 45.46 and a beta of 1.42. The stock has a fifty day moving average price of $9.80 and a two-hundred day moving average price of $9.46. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $13.26.

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

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.