Fisher Asset Management LLC Cuts Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Fisher Asset Management LLC cut its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 20.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,274,087 shares of the company’s stock after selling 843,157 shares during the quarter. Fisher Asset Management LLC owned approximately 1.15% of Goodyear Tire & Rubber worth $46,885,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GT. Headinvest LLC purchased a new position in Goodyear Tire & Rubber in the third quarter valued at approximately $34,000. American Trust bought a new stake in shares of Goodyear Tire & Rubber in the third quarter valued at $140,000. Pathstone Family Office LLC purchased a new position in shares of Goodyear Tire & Rubber during the 3rd quarter valued at $141,000. Cerity Partners LLC purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth about $156,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in Goodyear Tire & Rubber in the 4th quarter worth about $168,000. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $12.24 on Friday. The firm’s fifty day moving average is $12.48 and its 200 day moving average is $13.15. The Goodyear Tire & Rubber Company has a 52 week low of $10.12 and a 52 week high of $16.50. The company has a quick ratio of 0.55, a current ratio of 1.07 and a debt-to-equity ratio of 1.41.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.11. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.38 billion. Goodyear Tire & Rubber had a positive return on equity of 1.16% and a negative net margin of 3.43%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 earnings per share. As a group, analysts predict that The Goodyear Tire & Rubber Company will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.16.

About Goodyear Tire & Rubber

The Goodyear Tire & Rubber Company, together with its subsidiaries, develops, manufactures, distributes, and sells tires and related products and services worldwide. It offers various lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, earthmoving and mining equipment, farm implements, industrial equipment, and other applications under the Goodyear, Cooper, Dunlop, Kelly, Mastercraft, Roadmaster, Debica, Sava, Fulda, Mickey Thompson, Avon, and Remington brands and various house brands, as well as under the private-label brands.