Segall Bryant & Hamill LLC Sells 520,472 Shares of The Goodyear Tire & Rubber Company $GT

Segall Bryant & Hamill LLC cut its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 18.3% during the 1st quarter, HoldingsChannel reports. The fund owned 2,317,713 shares of the company’s stock after selling 520,472 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Goodyear Tire & Rubber were worth $15,366,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bastion Asset Management Inc. raised its position in Goodyear Tire & Rubber by 72.9% in the 4th quarter. Bastion Asset Management Inc. now owns 963,938 shares of the company’s stock worth $8,076,000 after purchasing an additional 406,410 shares during the period. Hsbc Holdings PLC boosted its position in Goodyear Tire & Rubber by 144.6% during the first quarter. Hsbc Holdings PLC now owns 430,136 shares of the company’s stock valued at $2,798,000 after buying an additional 254,305 shares during the period. Readystate Asset Management LP grew its stake in shares of Goodyear Tire & Rubber by 45.8% during the first quarter. Readystate Asset Management LP now owns 2,606,350 shares of the company’s stock valued at $17,280,000 after buying an additional 818,588 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Goodyear Tire & Rubber by 113.5% during the first quarter. SG Americas Securities LLC now owns 1,447,677 shares of the company’s stock valued at $9,598,000 after buying an additional 769,710 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Goodyear Tire & Rubber by 8.9% in the first quarter. Dimensional Fund Advisors LP now owns 16,558,938 shares of the company’s stock worth $109,778,000 after buying an additional 1,352,085 shares during the period. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Performance

Shares of NASDAQ:GT opened at $6.95 on Friday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -0.96 and a beta of 1.12. The company has a 50-day moving average price of $6.51 and a 200-day moving average price of $7.29. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The Goodyear Tire & Rubber Company has a 12 month low of $5.43 and a 12 month high of $10.62.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. Goodyear Tire & Rubber’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. As a group, equities analysts anticipate that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Zacks Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Wall Street Zen upgraded Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Citigroup lowered their price objective on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.54.

About Goodyear Tire & Rubber

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.