MetLife Investment Management LLC lessened its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Free Report) by 3.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 298,463 shares of the company’s stock after selling 10,788 shares during the quarter. MetLife Investment Management LLC owned about 0.10% of Goodyear Tire & Rubber worth $2,641,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of 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 buying an additional 4,633,368 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Goodyear Tire & Rubber by 91.5% in the second quarter. AQR Capital Management LLC now owns 2,536,252 shares of the company’s stock worth $28,203,000 after buying an additional 1,211,519 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 buying an additional 1,013,550 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Goodyear Tire & Rubber in the second quarter worth about $8,492,000. Finally, Bank of Montreal Can lifted its holdings in shares of Goodyear Tire & Rubber by 323.6% in the second quarter. Bank of Montreal Can now owns 976,078 shares of the company’s stock worth $11,108,000 after buying an additional 745,636 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.
Wall Street Analysts Forecast Growth
GT has been the topic of a number of recent analyst reports. Wolfe Research downgraded shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. StockNews.com downgraded 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 Up 0.7 %
GT stock opened at $10.81 on Thursday. The company has a market capitalization of $3.08 billion, a PE ratio of -10.21 and a beta of 1.77. The Goodyear Tire & Rubber Company has a one year low of $7.27 and a one year high of $15.24. The company’s 50 day moving average price is $9.00 and its two-hundred day moving average price is $9.83. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.65 and a current ratio of 1.14.
Goodyear Tire & Rubber (NASDAQ:GT – Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.12. Goodyear Tire & Rubber had a negative net margin of 1.56% and a positive return on equity of 6.66%. The firm had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same quarter last year, the business earned $0.36 earnings per share. The business’s revenue was down 6.2% on a year-over-year basis. As a group, analysts predict that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current fiscal year.
Goodyear Tire & Rubber Company 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.
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