The Goodyear Tire & Rubber Company (NASDAQ:GT) Stock Position Lifted by Readystate Asset Management LP

Readystate Asset Management LP lifted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 58.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,008,000 shares of the company's stock after acquiring an additional 370,859 shares during the period. Readystate Asset Management LP owned 0.35% of Goodyear Tire & Rubber worth $8,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $30,817,000 after buying 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 second quarter. Edgestream Partners L.P. now owns 634,077 shares of the company's stock worth $7,197,000 after purchasing an additional 577,045 shares in the last quarter. SG Americas Securities LLC boosted its position in Goodyear Tire & Rubber by 1,843.6% during the third quarter. SG Americas Securities LLC now owns 474,980 shares of the company's stock worth $4,204,000 after purchasing an additional 450,542 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Goodyear Tire & Rubber by 196.8% in the second quarter. Hsbc Holdings PLC now owns 335,967 shares of the company's stock worth $3,768,000 after acquiring an additional 222,767 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Goodyear Tire & Rubber in the second quarter worth $2,299,000. Institutional investors and hedge funds own 84.19% of the company's stock.

Goodyear Tire & Rubber Trading Down 6.6 %

Goodyear Tire & Rubber stock traded down $0.71 during trading on Thursday, hitting $10.10. The company's stock had a trading volume of 2,211,206 shares, compared to its average volume of 4,306,847. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -10.39 and a beta of 1.77. The stock's fifty day moving average is $9.05 and its 200 day moving average is $9.83. The Goodyear Tire & Rubber Company has a 1-year low of $7.27 and a 1-year 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.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.25 by $0.12. The company had revenue of $4.82 billion during 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 firm's revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 earnings per share. As a group, equities research analysts predict that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GT shares. StockNews.com cut Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Wolfe Research cut Goodyear Tire & Rubber from an "outperform" rating to a "peer perform" rating in a report on Thursday, September 5th.

Goodyear Tire & Rubber 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.