Principal Financial Group Inc. lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 30.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 661,398 shares of the company's stock after selling 293,384 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Goodyear Tire & Rubber worth $5,853,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GT. Tidal Investments LLC grew its holdings in Goodyear Tire & Rubber by 41.6% in the 1st quarter. Tidal Investments LLC now owns 63,967 shares of the company's stock valued at $878,000 after buying an additional 18,790 shares during the period. Bank of New York Mellon Corp raised its position in shares of Goodyear Tire & Rubber by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company's stock valued at $30,817,000 after purchasing an additional 71,410 shares in the last quarter. Edgestream Partners L.P. raised its position in shares of Goodyear Tire & Rubber by 1,011.8% in the 2nd quarter. Edgestream Partners L.P. now owns 634,077 shares of the company's stock valued at $7,197,000 after purchasing an additional 577,045 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Goodyear Tire & Rubber by 132.2% in 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 acquiring an additional 127,610 shares during the last quarter. Finally, SG Americas Securities LLC increased 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 acquiring an additional 450,542 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Wolfe Research downgraded 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.
Read Our Latest Stock Report on GT
Goodyear Tire & Rubber Stock Performance
Shares of Goodyear Tire & Rubber stock opened at $9.07 on Thursday. 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 debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The business has a fifty day simple moving average of $8.59 and a 200-day simple moving average of $10.01.
Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its earnings results 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 business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the business posted $0.36 earnings per share. Goodyear Tire & Rubber's revenue was down 6.2% compared to the same quarter last year. Research analysts predict that The Goodyear Tire & Rubber Company will post 1.08 earnings per share for the current year.
About Goodyear Tire & Rubber
(
Free Report)
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.
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