Bank of Montreal Can Sells 757,821 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

Bank of Montreal Can lessened its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 77.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 218,257 shares of the company's stock after selling 757,821 shares during the period. Bank of Montreal Can owned approximately 0.08% of Goodyear Tire & Rubber worth $1,914,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Goodyear Tire & Rubber by 2.7% in 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 acquiring an additional 71,410 shares in the last quarter. Edgestream Partners L.P. boosted its position in Goodyear Tire & Rubber by 1,011.8% during the 2nd quarter. Edgestream Partners L.P. now owns 634,077 shares of the company's stock worth $7,197,000 after acquiring an additional 577,045 shares during the period. SG Americas Securities LLC grew its stake in Goodyear Tire & Rubber by 1,843.6% during the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company's stock valued at $4,204,000 after acquiring an additional 450,542 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Goodyear Tire & Rubber by 196.8% in the 2nd quarter. Hsbc Holdings PLC now owns 335,967 shares of the company's stock valued at $3,768,000 after purchasing an additional 222,767 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter worth approximately $2,299,000. 84.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on GT shares. StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Wolfe Research lowered Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 5th.

Goodyear Tire & Rubber Stock Performance

Goodyear Tire & Rubber stock traded up $0.17 during trading hours on Friday, hitting $10.16. The stock had a trading volume of 5,470,841 shares, compared to its average volume of 4,329,771. The company has a 50-day moving average of $9.09 and a two-hundred day moving average of $9.83. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The Goodyear Tire & Rubber Company has a fifty-two week low of $7.27 and a fifty-two week high of $15.24. The company has a market cap of $2.89 billion, a PE ratio of -9.61 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current fiscal year.

Goodyear Tire & Rubber Company 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.