Shares of Goodyear Tire & Rubber Company (NASDAQ:GT) sold by SG Americas Securities LLC

SG Americas Securities LLC lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 84.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,438 shares of the company’s stock after selling 134,942 shares during the quarter. SG Americas Securities LLC’s holdings in Goodyear Tire & Rubber were worth $277,000 as of its most recent SEC filing.

A number of other large investors have recently added to or reduced their stakes in GT. Retirement Systems of Alabama increased its holdings in shares of Goodyear Tire & Rubber by 0.3% in the first quarter. Retirement Systems of Alabama now owns 356,065 shares of the company’s stock valued at $4,889,000 after purchasing an additional 935 shares in the last quarter. Covestor Ltd grew its position in shares of Goodyear Tire & Rubber by 33.6% in the first quarter. Covestor Ltd now owns 5,108 shares of the company’s stock worth $70,000 after acquiring an additional 1,284 shares during the period. State of Michigan Retirement System boosted its stake in Goodyear Tire & Rubber by 2.4% in the first quarter. State of Michigan Retirement System now owns 69,626 shares of the company’s stock valued at $956,000 after acquiring an additional 1,600 shares in the last quarter. Inçalta Capital LLC boosted its holdings in Goodyear Tire & Rubber by 12.2% in the 1st quarter. Inçalta Capital LLC now owns 15,261 shares of the company’s stock valued at $210,000 after buying an additional 1,654 shares during the period. Finally, Richard P Slaughter Associates Inc raised its stake in Goodyear Tire & Rubber by 0.9% in the 1st quarter. Richard P Slaughter Associates Inc now owns 191,849 shares of the company’s stock worth $2,634,000 after purchasing an additional 1,796 shares during the last quarter. 84.19% of the shares are currently owned by institutional investors and hedge funds.

Analysts set new price targets

A number of research firms have issued reports on GT. StockNews.com raised Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a research report on Thursday, May 16th. Morgan Stanley assumed coverage on shares of Goodyear Tire & Rubber in a research note on Thursday, June 13th. They issued an “equal weight” rating and a $14.00 price target for the company. Finally, HSBC decreased their price objective on shares of Goodyear Tire & Rubber from $16.80 to $15.90 and set a “buy” rating on the stock in a research report on Wednesday. May 8. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Goodyear Tire & Rubber presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.23, based on data from MarketBeat.com.

Check out our latest research report on GT

Goodyear tires and rubber price performance

Shares of NASDAQ GT opened at $8.49 on Friday. The stock’s 50-day simple moving average is $10.56, and its 200-day simple moving average is $11.83. The firm has a market cap of $2.42 billion, a PE ratio of -3.76 and a beta of 1.74. Goodyear Tire & Rubber Company has a fifty-two week low of $7.63 and a fifty-two week high of $15.24. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.60, and a current ratio of 1.06.

Goodyear Tire & Rubber (NASDAQ:GT – Get Your Free Report ) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.78 billion. In the same quarter last year, the company earned ($0.34) earnings per share. The company’s revenue for the quarter was down 6.1% year-over-year. As a group, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.2 EPS for the current fiscal year.

About Goodyear Tire & Rubber

(Free report)

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

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