The Goodyear Tire & Rubber Company (NASDAQ:GT) Shares Bought by D.A. Davidson & CO.

D.A. Davidson & CO. boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 11.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,808 shares of the company’s stock after buying an additional 7,338 shares during the quarter. D.A. Davidson & CO.’s holdings in Goodyear Tire & Rubber were worth $609,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Private Trust Co. NA raised its holdings in Goodyear Tire & Rubber by 110.4% during the 3rd quarter. Private Trust Co. NA now owns 7,050 shares of the company’s stock worth $62,000 after buying an additional 3,700 shares during the period. Mirabella Financial Services LLP lifted its stake in Goodyear Tire & Rubber by 411.6% in the 3rd quarter. Mirabella Financial Services LLP now owns 192,420 shares of the company’s stock worth $1,703,000 after acquiring an additional 154,812 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Goodyear Tire & Rubber during the 3rd quarter worth about $122,000. Citigroup Inc. grew its stake in Goodyear Tire & Rubber by 66.7% during the 3rd quarter. Citigroup Inc. now owns 491,990 shares of the company’s stock valued at $4,354,000 after acquiring an additional 196,788 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Goodyear Tire & Rubber by 7.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,532,990 shares of the company’s stock valued at $31,267,000 after purchasing an additional 252,960 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

GT opened at $11.00 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14. The company has a market cap of $3.13 billion, a PE ratio of -10.58 and a beta of 1.69. The stock has a 50-day moving average of $8.89 and a 200-day moving average of $9.86. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $15.24.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a positive return on equity of 6.66% and a negative net margin of 1.56%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.36 earnings per share. As a group, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on GT shares. 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 cut shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th.

Goodyear Tire & Rubber Profile

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.