Citigroup Inc. Has $4.35 Million Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Citigroup Inc. grew its position in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 66.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 491,990 shares of the company’s stock after buying an additional 196,788 shares during the period. Citigroup Inc. owned 0.17% of Goodyear Tire & Rubber worth $4,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GT. American Century Companies Inc. raised its stake in shares of Goodyear Tire & Rubber by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock valued at $82,376,000 after purchasing an additional 1,013,550 shares during the period. Victory Capital Management Inc. increased its position in shares of Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock valued at $42,051,000 after acquiring an additional 4,633,368 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Goodyear Tire & Rubber by 13.4% during the third quarter. Segall Bryant & Hamill LLC now owns 4,101,832 shares of the company’s stock worth $36,301,000 after buying an additional 484,198 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Goodyear Tire & Rubber by 7.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock worth $31,267,000 after buying an additional 252,960 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Goodyear Tire & Rubber by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock worth $30,817,000 after buying an additional 71,410 shares during the last quarter. 84.19% of the stock is currently owned by institutional investors.

Goodyear Tire & Rubber Trading Down 2.4 %

Shares of GT stock opened at $10.74 on Wednesday. The stock has a 50 day simple moving average of $8.95 and a 200 day simple moving average of $9.84. The company has a current ratio of 1.14, a quick ratio of 0.65 and a debt-to-equity ratio of 1.51. The Goodyear Tire & Rubber Company has a 1 year low of $7.27 and a 1 year high of $15.24. The stock has a market cap of $3.06 billion, a P/E ratio of -10.33 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.12. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 earnings per share. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GT shares. Wolfe Research cut Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com cut Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Goodyear Tire & Rubber Profile

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