The Goodyear Tire & Rubber Company $GT Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 826.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,270,968 shares of the company’s stock after purchasing an additional 1,133,734 shares during the period. SG Americas Securities LLC’s holdings in Goodyear Tire & Rubber were worth $9,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GT. Greenvale Capital LLP acquired a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at approximately $106,292,000. Marshall Wace LLP raised its holdings in shares of Goodyear Tire & Rubber by 1,107.5% during the second quarter. Marshall Wace LLP now owns 7,825,605 shares of the company’s stock worth $81,152,000 after purchasing an additional 7,177,542 shares during the last quarter. Maple Rock Capital Partners Inc. raised its holdings in shares of Goodyear Tire & Rubber by 215.6% during the second quarter. Maple Rock Capital Partners Inc. now owns 5,561,846 shares of the company’s stock worth $57,676,000 after purchasing an additional 3,799,383 shares during the last quarter. Norges Bank acquired a new position in Goodyear Tire & Rubber during the second quarter valued at $29,112,000. Finally, Ensign Peak Advisors Inc boosted its holdings in Goodyear Tire & Rubber by 2,327.9% in the second quarter. Ensign Peak Advisors Inc now owns 2,578,433 shares of the company’s stock valued at $26,738,000 after purchasing an additional 2,472,231 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Up 0.8%

Goodyear Tire & Rubber stock opened at $9.23 on Friday. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.27 and a quick ratio of 0.71. The stock has a market capitalization of $2.64 billion, a PE ratio of -1.52, a price-to-earnings-growth ratio of 0.90 and a beta of 1.18. The business has a 50 day simple moving average of $8.43 and a 200-day simple moving average of $8.74. The Goodyear Tire & Rubber Company has a 12 month low of $6.51 and a 12 month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.12. The firm had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 EPS. On average, analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Zacks Research upgraded Goodyear Tire & Rubber from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Citigroup reduced their price target on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. JPMorgan Chase & Co. dropped their price objective on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Finally, Morgan Stanley boosted their target price on shares of Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.85.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.