State Street Corp Purchases 24,888 Shares of The Goodyear Tire & Rubber Company (NASDAQ:GT)

State Street Corp boosted its position in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,493,414 shares of the company’s stock after acquiring an additional 24,888 shares during the quarter. State Street Corp’s holdings in Goodyear Tire & Rubber were worth $92,867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of Goodyear Tire & Rubber by 2.7% in 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 during the period. Edgestream Partners L.P. raised its position in shares of Goodyear Tire & Rubber by 1,011.8% in the second 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 during the period. SG Americas Securities LLC raised its position in shares of Goodyear Tire & Rubber by 1,843.6% in the third quarter. SG Americas Securities LLC now owns 474,980 shares of the company’s stock valued at $4,204,000 after purchasing an additional 450,542 shares during the period. Hsbc Holdings PLC raised its position in shares of Goodyear Tire & Rubber by 196.8% in the second quarter. Hsbc Holdings PLC now owns 335,967 shares of the company’s stock valued at $3,768,000 after purchasing an additional 222,767 shares during the period. Finally, FMR LLC raised its position in shares of Goodyear Tire & Rubber by 28.1% in the third quarter. FMR LLC now owns 842,822 shares of the company’s stock valued at $7,459,000 after purchasing an additional 184,770 shares during the period. 84.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

GT has been the topic of several research analyst reports. Wolfe Research lowered shares of Goodyear Tire & Rubber from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 5th. StockNews.com lowered shares of Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Wednesday, November 13th.

Goodyear Tire & Rubber Trading Down 5.6 %

GT stock opened at $9.47 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’s 50-day simple moving average is $9.29 and its 200 day simple moving average is $9.69. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $14.97. The company has a market capitalization of $2.70 billion, a PE ratio of -9.11 and a beta of 1.77.

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 for the quarter, compared to the consensus estimate of $4.96 billion. During the same period in the prior year, the company posted $0.36 earnings per share. Goodyear Tire & Rubber’s revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Goodyear Tire & Rubber Company will post 1.09 earnings per share for the current 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.