The Goodyear Tire & Rubber Company $GT Stock Holdings Trimmed by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. has decreased its holdings in The Goodyear Tire & Rubber Company by 42.8%, now owning approximately $1.75 million worth of shares.
• In the first quarter, several institutional investors increased their positions, with notable increases such as GAMMA Investing LLC growing its holdings by 147.5%.
• Goodyear reported a disappointing earnings per share of ($0.17), falling short of analyst estimates of $0.14, with a net revenue of $4.47 billion for the recent quarter.

Russell Investments Group Ltd. decreased its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 42.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,891 shares of the company's stock after selling 142,011 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Goodyear Tire & Rubber worth $1,754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GT. GAMMA Investing LLC raised its stake in Goodyear Tire & Rubber by 147.5% during the 1st quarter. GAMMA Investing LLC now owns 2,809 shares of the company's stock valued at $26,000 after acquiring an additional 1,674 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Goodyear Tire & Rubber by 125.9% in the 1st quarter. UMB Bank n.a. now owns 3,136 shares of the company's stock valued at $29,000 after purchasing an additional 1,748 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Goodyear Tire & Rubber in the first quarter valued at approximately $33,000. Farther Finance Advisors LLC raised its stake in shares of Goodyear Tire & Rubber by 1,799.1% during the first quarter. Farther Finance Advisors LLC now owns 4,083 shares of the company's stock worth $37,000 after purchasing an additional 3,868 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Goodyear Tire & Rubber during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Down 0.5%

Shares of GT stock traded down $0.04 during trading hours on Monday, reaching $8.48. The company had a trading volume of 5,297,012 shares, compared to its average volume of 9,353,008. The company has a market capitalization of $2.43 billion, a P/E ratio of 5.97, a price-to-earnings-growth ratio of 0.75 and a beta of 1.37. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.63 and a current ratio of 1.15. The Goodyear Tire & Rubber Company has a twelve month low of $7.27 and a twelve month high of $12.03. The stock's fifty day simple moving average is $9.98 and its 200 day simple moving average is $10.10.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.31). Goodyear Tire & Rubber had a return on equity of 3.17% and a net margin of 2.22%.The company had revenue of $4.47 billion during the quarter, compared to analysts' expectations of $4.50 billion. During the same quarter in the prior year, the company earned $0.19 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

GT has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research report on Saturday, May 10th. Hsbc Global Res cut shares of Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. BNP Paribas Exane reiterated a "neutral" rating and set a $9.00 price target on shares of Goodyear Tire & Rubber in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Goodyear Tire & Rubber from $15.00 to $12.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, HSBC restated a "hold" rating and issued a $9.50 price objective (down previously from $15.50) on shares of Goodyear Tire & Rubber in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $12.25.

Goodyear Tire & Rubber Company Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.