SG Americas Securities LLC Trims Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

SG Americas Securities LLC lowered its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 86.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 62,308 shares of the company’s stock after selling 412,672 shares during the period. SG Americas Securities LLC’s holdings in Goodyear Tire & Rubber were worth $561,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in Goodyear Tire & Rubber by 2,122.5% during the third quarter. Sound Income Strategies LLC now owns 3,956 shares of the company’s stock worth $35,000 after purchasing an additional 3,778 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Private Trust Co. NA lifted its holdings in Goodyear Tire & Rubber by 110.4% during the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after buying an additional 3,700 shares in the last quarter. AM Squared Ltd acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth approximately $92,000. Finally, Apollon Wealth Management LLC purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $92,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 3.9 %

NASDAQ:GT opened at $8.87 on Friday. 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 stock’s 50 day simple moving average is $9.41 and its 200-day simple moving average is $9.13. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $14.44. The firm has a market cap of $2.53 billion, a P/E ratio of -8.53 and a beta of 1.80.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.12. The business had revenue of $4.82 billion for the quarter, compared to analyst estimates 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 business’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 earnings per share. Equities analysts anticipate that The Goodyear Tire & Rubber Company will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $10.00 target price on shares of Goodyear Tire & Rubber in a report on Friday, December 20th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $13.30.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.