Charles Schwab Investment Management Inc. Grows Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Charles Schwab Investment Management Inc. raised its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 7.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,532,990 shares of the company’s stock after buying an additional 252,960 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Goodyear Tire & Rubber were worth $31,267,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in shares of Goodyear Tire & Rubber by 41.6% in the 1st quarter. Tidal Investments LLC now owns 63,967 shares of the company’s stock valued at $878,000 after purchasing an additional 18,790 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Goodyear Tire & Rubber by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,715,149 shares of the company’s stock valued at $30,817,000 after purchasing an additional 71,410 shares in the last quarter. Edgestream Partners L.P. raised its holdings in shares of Goodyear Tire & Rubber by 1,011.8% in the 2nd quarter. Edgestream Partners L.P. now owns 634,077 shares of the company’s stock valued at $7,197,000 after purchasing an additional 577,045 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Goodyear Tire & Rubber by 1,843.6% during the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company’s stock worth $4,204,000 after acquiring an additional 450,542 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Goodyear Tire & Rubber by 196.8% during the 2nd quarter. Hsbc Holdings PLC now owns 335,967 shares of the company’s stock worth $3,768,000 after acquiring an additional 222,767 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on GT shares. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research note on Wednesday, November 13th.

Goodyear Tire & Rubber Trading Down 2.4 %

Shares of Goodyear Tire & Rubber stock opened at $10.74 on Wednesday. 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 Goodyear Tire & Rubber Company has a 12-month low of $7.27 and a 12-month high of $15.24. The firm’s 50 day simple moving average is $8.95 and its two-hundred day simple moving average is $9.84.

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

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.