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

SG Americas Securities LLC boosted its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 1,843.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 474,980 shares of the company's stock after purchasing an additional 450,542 shares during the period. SG Americas Securities LLC owned about 0.17% of Goodyear Tire & Rubber worth $4,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Goodyear Tire & Rubber by 102.9% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 691,152 shares of the company's stock worth $7,845,000 after purchasing an additional 350,500 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Goodyear Tire & Rubber in the 2nd quarter worth approximately $178,000. Point72 Asset Management L.P. purchased a new position in Goodyear Tire & Rubber in the 2nd quarter valued at approximately $8,492,000. Ironwood Investment Management LLC raised its holdings in Goodyear Tire & Rubber by 6.6% during the 2nd quarter. Ironwood Investment Management LLC now owns 46,900 shares of the company's stock valued at $532,000 after acquiring an additional 2,900 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Goodyear Tire & Rubber by 80.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 28,681 shares of the company's stock worth $326,000 after acquiring an additional 12,822 shares in the last quarter. 84.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

GT has been the topic of a number of analyst reports. Morgan Stanley started coverage on Goodyear Tire & Rubber in a research note on Thursday, June 13th. They set an "equal weight" rating and a $14.00 price objective on the stock. StockNews.com downgraded shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Tuesday, September 17th. Finally, Wolfe Research cut shares of Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.23.

Goodyear Tire & Rubber Price Performance

Shares of GT traded down $0.25 during trading hours on Monday, reaching $8.28. 4,378,756 shares of the company's stock traded hands, compared to its average volume of 4,065,901. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.41. The firm's 50 day simple moving average is $8.48 and its 200-day simple moving average is $10.85. The stock has a market cap of $2.36 billion, a PE ratio of -3.66 and a beta of 1.69. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.10. Goodyear Tire & Rubber had a negative net margin of 1.82% and a positive return on equity of 6.55%. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the previous year, the company earned ($0.34) EPS. The business's quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts expect that The Goodyear Tire & Rubber Company will post 1.06 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.