Connor Clark & Lunn Investment Management Ltd. Buys New Shares in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 61,599 shares of the company's stock, valued at approximately $545,000.

A number of other hedge funds have also recently modified their holdings of the business. Tidal Investments LLC increased its holdings in Goodyear Tire & Rubber by 41.6% during the 1st quarter. Tidal Investments LLC now owns 63,967 shares of the company's stock worth $878,000 after purchasing an additional 18,790 shares during the period. Bank of New York Mellon Corp lifted its stake 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 during the period. Edgestream Partners L.P. grew its holdings 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 in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in Goodyear Tire & Rubber by 132.2% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 224,158 shares of the company's stock valued at $3,077,000 after purchasing an additional 127,610 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Goodyear Tire & Rubber by 1,843.6% in the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company's stock valued at $4,204,000 after purchasing an additional 450,542 shares in the last quarter. Institutional investors own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GT. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th. StockNews.com lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th.

Goodyear Tire & Rubber Stock Up 1.2 %

Shares of NASDAQ GT traded up $0.13 during trading hours on Friday, hitting $10.74. 4,439,650 shares of the stock were exchanged, compared to its average volume of 4,307,536. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $15.24. The firm has a fifty day moving average price of $8.89 and a 200-day moving average price of $9.90. 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 company has a market cap of $3.06 billion, a PE ratio of -10.33 and a beta of 1.69.

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