Segall Bryant & Hamill LLC Decreases Stock Position in The Goodyear Tire & Rubber Company $GT

Key Points

• Segall Bryant & Hamill cut its Goodyear stake by 18.3% in the first quarter, selling 520,472 shares and retaining 2.32 million shares worth approximately $15.4 million. Institutional investors collectively own 84.19% of the company.
• Goodyear reported a quarterly loss of $0.39 per share, narrower than the expected $0.44 loss, while revenue of $3.88 billion exceeded estimates but declined 8.7% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $8.54; the stock recently opened at $6.95 and has traded between $5.43 and $10.62 over the past year.

Segall Bryant & Hamill LLC reduced its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 18.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,317,713 shares of the company's stock after selling 520,472 shares during the period. Segall Bryant & Hamill LLC owned 0.81% of Goodyear Tire & Rubber worth $15,366,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EFG International AG bought a new stake in shares of Goodyear Tire & Rubber in the fourth quarter valued at approximately $26,000. Los Angeles Capital Management LLC purchased a new position in Goodyear Tire & Rubber in the 4th quarter valued at approximately $26,000. Focus Partners Wealth purchased a new position in Goodyear Tire & Rubber in the 3rd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in Goodyear Tire & Rubber by 656.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,048 shares of the company's stock valued at $40,000 after acquiring an additional 5,248 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Goodyear Tire & Rubber by 55.5% during the 4th quarter. Parallel Advisors LLC now owns 7,114 shares of the company's stock valued at $62,000 after acquiring an additional 2,538 shares during the period. Institutional investors own 84.19% of the company's stock.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT opened at $6.95 on Friday. The Goodyear Tire & Rubber Company has a 52-week low of $5.43 and a 52-week high of $10.62. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.51 and a current ratio of 1.04. The company has a market capitalization of $2.00 billion, a P/E ratio of -0.96 and a beta of 1.12. The company has a fifty day moving average of $6.51 and a 200-day moving average of $7.29.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($0.44) by $0.05. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.The business had revenue of $3.88 billion for the quarter, compared to analysts' expectations of $3.81 billion. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The firm's revenue was down 8.7% on a year-over-year basis. As a group, equities research analysts predict that The Goodyear Tire & Rubber Company will post -0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Goodyear Tire & Rubber in a report on Monday, May 11th. TD Cowen decreased their price target on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Citigroup lowered their price objective on Goodyear Tire & Rubber from $10.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, Zacks Research upgraded Goodyear Tire & Rubber from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Goodyear Tire & Rubber currently has a consensus rating of "Hold" and an average target price of $8.54.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear's core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

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