Segall Bryant & Hamill LLC Cuts Stock Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Segall Bryant & Hamill LLC lowered its position in The Goodyear Tire & Rubber Company (NASDAQ:GT - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,900,892 shares of the company's stock after selling 106,821 shares during the period. Segall Bryant & Hamill LLC owned 1.37% of Goodyear Tire & Rubber worth $36,044,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GT. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a "hold" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. BNP Paribas Exane raised Goodyear Tire & Rubber from a "neutral" rating to an "outperform" rating and set a $15.00 price target for the company in a research report on Monday, June 9th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $17.00 price objective (down previously from $18.00) on shares of Goodyear Tire & Rubber in a research report on Thursday, May 22nd. Wall Street Zen lowered Goodyear Tire & Rubber from a "buy" rating to a "hold" rating in a research note on Saturday, May 10th. Finally, BNP Paribas upgraded Goodyear Tire & Rubber from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Goodyear Tire & Rubber currently has an average rating of "Buy" and an average price target of $14.20.

Goodyear Tire & Rubber Price Performance

GT traded up $0.08 during trading on Thursday, reaching $10.89. The stock had a trading volume of 2,510,443 shares, compared to its average volume of 5,840,995. The business has a 50-day moving average of $10.97 and a 200-day moving average of $9.95. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $12.58. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.64 and a current ratio of 1.22. The stock has a market cap of $3.11 billion, a PE ratio of 12.97, a PEG ratio of 0.34 and a beta of 1.35.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. Goodyear Tire & Rubber had a net margin of 1.30% and a return on equity of 5.31%. The firm had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the firm posted $0.10 earnings per share. The business's revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

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.