SG Americas Securities LLC Acquires 1,133,734 Shares of The Goodyear Tire & Rubber Company $GT

SG Americas Securities LLC boosted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 826.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,270,968 shares of the company’s stock after buying an additional 1,133,734 shares during the quarter. SG Americas Securities LLC owned approximately 0.44% of Goodyear Tire & Rubber worth $9,507,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in Goodyear Tire & Rubber by 6.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock valued at $177,000 after acquiring an additional 1,011 shares in the last quarter. State of Michigan Retirement System boosted its position in Goodyear Tire & Rubber by 1.9% during the second quarter. State of Michigan Retirement System now owns 68,726 shares of the company’s stock valued at $713,000 after purchasing an additional 1,300 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Goodyear Tire & Rubber by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 74,711 shares of the company’s stock valued at $775,000 after purchasing an additional 1,393 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Goodyear Tire & Rubber by 5.3% in the second quarter. Nisa Investment Advisors LLC now owns 30,303 shares of the company’s stock valued at $314,000 after purchasing an additional 1,537 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in Goodyear Tire & Rubber by 3.6% in the second quarter. Inspire Investing LLC now owns 46,061 shares of the company’s stock worth $478,000 after purchasing an additional 1,582 shares in the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Wall Street Analyst Weigh In

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

Goodyear Tire & Rubber Trading Up 0.8%

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

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.16 by $0.12. Goodyear Tire & Rubber had a negative net margin of 9.56% and a positive return on equity of 2.97%. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.67 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts predict that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

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.