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

Segall Bryant & Hamill LLC increased its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 13.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,101,832 shares of the company’s stock after purchasing an additional 484,198 shares during the quarter. Segall Bryant & Hamill LLC owned 1.44% of Goodyear Tire & Rubber worth $36,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Goodyear Tire & Rubber by 2.6% in the first quarter. Vanguard Group Inc. now owns 29,867,596 shares of the company’s stock worth $410,082,000 after acquiring an additional 765,529 shares during the period. American Century Companies Inc. raised its position in Goodyear Tire & Rubber by 16.2% in the second quarter. American Century Companies Inc. now owns 7,257,765 shares of the company’s stock worth $82,376,000 after acquiring an additional 1,013,550 shares during the period. Victory Capital Management Inc. raised its position in Goodyear Tire & Rubber by 3,921.7% in the third quarter. Victory Capital Management Inc. now owns 4,751,514 shares of the company’s stock worth $42,051,000 after acquiring an additional 4,633,368 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Goodyear Tire & Rubber by 3.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 3,977,383 shares of the company’s stock worth $54,609,000 after acquiring an additional 148,566 shares during the period. Finally, Bank of New York Mellon Corp raised its position in 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 worth $30,817,000 after acquiring an additional 71,410 shares during the period. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th.

Goodyear Tire & Rubber Stock Down 2.1 %

Shares of GT stock opened at $9.12 on Wednesday. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -8.77 and a beta of 1.69. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $15.24. The company’s fifty day moving average price is $8.56 and its 200-day moving average price is $10.01. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.14 and a quick ratio of 0.65.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.25 by $0.12. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The company’s revenue was down 6.2% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. Sell-side analysts expect that The Goodyear Tire & Rubber Company will post 1.08 EPS for the current fiscal year.

About Goodyear Tire & Rubber

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.