SG Americas Securities LLC Grows Position in The Goodyear Tire & Rubber Company $GT

SG Americas Securities LLC raised its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 113.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,447,677 shares of the company’s stock after acquiring an additional 769,710 shares during the quarter. SG Americas Securities LLC’s holdings in Goodyear Tire & Rubber were worth $9,598,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in GT. Focus Partners Wealth acquired a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth $25,000. EFG International AG acquired a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at about $26,000. Los Angeles Capital Management LLC purchased a new stake in Goodyear Tire & Rubber during the fourth quarter worth about $26,000. Parallel Advisors LLC grew its position in Goodyear Tire & Rubber by 55.5% during the fourth quarter. Parallel Advisors LLC now owns 7,114 shares of the company’s stock worth $62,000 after buying an additional 2,538 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its position in Goodyear Tire & Rubber by 29.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock worth $68,000 after buying an additional 1,749 shares during the period. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Zacks Research cut Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. TD Cowen dropped their price objective on Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. Finally, Citigroup decreased their target price on Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Goodyear Tire & Rubber has an average rating of “Reduce” and an average target price of $8.54.

Goodyear Tire & Rubber Stock Performance

Shares of GT opened at $6.84 on Friday. 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 stock has a market cap of $1.97 billion, a P/E ratio of -0.95 and a beta of 1.12. The company has a 50-day moving average of $6.30 and a two-hundred day moving average of $7.62. The Goodyear Tire & Rubber Company has a 12-month low of $5.43 and a 12-month high of $11.79.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.05. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.81 billion. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. As a group, research analysts predict that The Goodyear Tire & Rubber Company will post -0.27 EPS for the current fiscal 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.