National Bank of Canada FI Sells 1,287 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

National Bank of Canada FI lessened its stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,701 shares of the company’s stock after selling 1,287 shares during the period. National Bank of Canada FI’s holdings in Goodyear Tire & Rubber were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GT. Bank of New York Mellon Corp raised its stake in Goodyear Tire & Rubber by 2.7% during the second 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. increased 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 worth $7,197,000 after buying an additional 577,045 shares during the last quarter. SG Americas Securities LLC raised its position 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 valued at $4,204,000 after buying an additional 450,542 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Goodyear Tire & Rubber by 196.8% in the 2nd quarter. Hsbc Holdings PLC now owns 335,967 shares of the company’s stock valued at $3,768,000 after acquiring an additional 222,767 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Goodyear Tire & Rubber in the second quarter worth about $2,299,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.

Analyst Ratings Changes

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

Goodyear Tire & Rubber Price Performance

NASDAQ GT opened at $10.03 on Monday. The company has a market cap of $2.86 billion, a PE ratio of -9.64 and a beta of 1.77. The Goodyear Tire & Rubber Company has a 52-week low of $7.27 and a 52-week high of $15.24. 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 firm’s 50 day moving average price is $9.27 and its 200-day moving average price is $9.71.

Goodyear Tire & Rubber (NASDAQ:GT) last released 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 negative net margin of 1.56% and a positive return on equity of 6.66%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.96 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. Sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.09 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.