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

SG Americas Securities LLC boosted its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 573.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 419,609 shares of the company's stock after acquiring an additional 357,301 shares during the quarter. SG Americas Securities LLC owned 0.15% of Goodyear Tire & Rubber worth $3,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in GT. Norges Bank bought a new stake in shares of Goodyear Tire & Rubber in the 4th quarter worth $39,626,000. Maple Rock Capital Partners Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $16,875,000. Atlantic Investment Management Inc. bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $11,803,000. American Century Companies Inc. boosted its stake in shares of Goodyear Tire & Rubber by 10.3% in the fourth quarter. American Century Companies Inc. now owns 9,652,329 shares of the company's stock worth $86,871,000 after acquiring an additional 897,463 shares during the period. Finally, Greenvale Capital LLP bought a new position in shares of Goodyear Tire & Rubber in the fourth quarter worth about $6,750,000. Institutional investors own 84.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GT shares. Deutsche Bank Aktiengesellschaft raised Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective on the stock in a report on Monday, March 31st. BNP Paribas Exane upgraded shares of Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price target on the stock in a report on Monday, June 9th. TD Cowen assumed coverage on shares of Goodyear Tire & Rubber in a research report on Friday, March 7th. They set a "buy" rating and a $14.00 target price on the stock. Wall Street Zen cut shares of Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a report on Saturday, May 10th. Finally, Argus raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $14.20.

Goodyear Tire & Rubber Trading Down 4.4%

Shares of NASDAQ:GT traded down $0.49 during trading on Monday, reaching $10.46. 5,294,972 shares of the stock were exchanged, compared to its average volume of 5,534,404. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.55 and a current ratio of 1.04. The Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $12.58. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 43.43 and a beta of 1.40. The firm's 50-day moving average price is $10.72 and its 200 day moving average price is $9.77.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.06) by $0.02. The business had revenue of $4.25 billion during the quarter, compared to analysts' expectations of $4.41 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber 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.