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

Citigroup Inc. grew its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 66.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,990 shares of the company's stock after purchasing an additional 196,788 shares during the period. Citigroup Inc. owned about 0.17% of Goodyear Tire & Rubber worth $4,354,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Texas Permanent School Fund Corp increased its holdings in shares of Goodyear Tire & Rubber by 0.6% during the 2nd quarter. Texas Permanent School Fund Corp now owns 249,633 shares of the company's stock valued at $2,833,000 after acquiring an additional 1,475 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Goodyear Tire & Rubber by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 79,547 shares of the company's stock valued at $903,000 after acquiring an additional 1,621 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in Goodyear Tire & Rubber by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,866 shares of the company's stock valued at $290,000 after purchasing an additional 2,245 shares during the period. Commonwealth Equity Services LLC boosted its stake in Goodyear Tire & Rubber by 2.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 114,861 shares of the company's stock valued at $1,304,000 after purchasing an additional 2,262 shares during the period. Finally, Family Firm Inc. bought a new stake in Goodyear Tire & Rubber during the 2nd quarter valued at approximately $26,000. 84.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GT has been the subject of a number of research reports. Wolfe Research downgraded Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 5th. StockNews.com downgraded Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th.

Goodyear Tire & Rubber Trading Up 0.7 %

GT stock traded up $0.07 during midday trading on Wednesday, hitting $10.81. 3,138,125 shares of the company's stock were exchanged, compared to its average volume of 4,316,945. The stock's fifty day moving average price is $9.00 and its 200-day moving average price is $9.83. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The company has a market cap of $3.08 billion, a PE ratio of -10.21 and a beta of 1.77. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.12. The company had revenue of $4.82 billion for the quarter, compared to analyst estimates of $4.96 billion. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. Research analysts predict that The Goodyear Tire & Rubber Company will post 1.09 earnings per share 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.