Segall Bryant & Hamill LLC Sells 325,224 Shares of The Goodyear Tire & Rubber Company $GT

Segall Bryant & Hamill LLC lessened its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 8.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,516,608 shares of the company’s stock after selling 325,224 shares during the period. Segall Bryant & Hamill LLC owned about 1.23% of Goodyear Tire & Rubber worth $26,304,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GT. Greenvale Capital LLP acquired a new position in shares of Goodyear Tire & Rubber in the second quarter worth approximately $106,292,000. Marshall Wace LLP raised its holdings in Goodyear Tire & Rubber by 1,107.5% during the 2nd quarter. Marshall Wace LLP now owns 7,825,605 shares of the company’s stock worth $81,152,000 after purchasing an additional 7,177,542 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Goodyear Tire & Rubber in the 3rd quarter worth approximately $32,301,000. Maple Rock Capital Partners Inc. boosted its stake in shares of Goodyear Tire & Rubber by 215.6% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 5,561,846 shares of the company’s stock valued at $57,676,000 after purchasing an additional 3,799,383 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Goodyear Tire & Rubber during the second quarter worth $29,112,000. Institutional investors and hedge funds own 84.19% of the company’s stock.

Analysts Set New Price Targets

GT has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Morgan Stanley boosted their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the company an “underweight” rating in a research note on Friday, November 28th. Finally, Zacks Research lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Goodyear Tire & Rubber presently has a consensus rating of “Hold” and a consensus target price of $10.83.

Goodyear Tire & Rubber Price Performance

Shares of NASDAQ GT opened at $8.25 on Tuesday. The stock has a market capitalization of $2.36 billion, a P/E ratio of -1.38, a PEG ratio of 0.35 and a beta of 1.12. The Goodyear Tire & Rubber Company has a one year low of $6.51 and a one year high of $12.03. The firm’s 50 day simple moving average is $9.17 and its two-hundred day simple moving average is $8.41. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). Goodyear Tire & Rubber had a positive return on equity of 3.21% and a negative net margin of 9.41%.The business had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, analysts expect that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current fiscal year.

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.