SG Americas Securities LLC Cuts Stock Holdings in The Goodyear Tire & Rubber Company $GT

SG Americas Securities LLC trimmed its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 46.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 677,967 shares of the company’s stock after selling 593,001 shares during the period. SG Americas Securities LLC owned approximately 0.24% of Goodyear Tire & Rubber worth $5,939,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Focus Partners Wealth bought a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth $25,000. Hantz Financial Services Inc. raised its position in Goodyear Tire & Rubber by 384.8% during the third quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock valued at $40,000 after purchasing an additional 4,198 shares in the last quarter. Cloud Capital Management LLC bought a new stake in Goodyear Tire & Rubber during the third quarter worth about $47,000. Bayforest Capital Ltd bought a new stake in Goodyear Tire & Rubber during the third quarter worth about $65,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Goodyear Tire & Rubber by 80.9% in the 4th quarter. GAMMA Investing LLC now owns 8,063 shares of the company’s stock worth $71,000 after purchasing an additional 3,605 shares in the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Stock Up 5.4%

Shares of NASDAQ:GT opened at $6.63 on Wednesday. The stock has a market capitalization of $1.90 billion, a P/E ratio of -1.11, a price-to-earnings-growth ratio of 0.27 and a beta of 1.12. The stock’s 50-day moving average price is $8.29 and its 200-day moving average price is $8.18. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.57. The Goodyear Tire & Rubber Company has a 12-month low of $6.14 and a 12-month high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last released its earnings results on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period last year, the firm posted $0.39 EPS. The company’s revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup raised their price objective on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Zacks Research cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.30.

Goodyear Tire & Rubber 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.