Jacobs Levy Equity Management Inc. Lowers Position in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Jacobs Levy Equity Management Inc. reduced its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,670,923 shares of the company’s stock after selling 363,406 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 1.29% of Goodyear Tire & Rubber worth $32,488,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GT. Tidal Investments LLC boosted its position in shares of Goodyear Tire & Rubber by 41.6% during the first quarter. Tidal Investments LLC now owns 63,967 shares of the company’s stock worth $878,000 after buying an additional 18,790 shares during the period. Bank of New York Mellon Corp boosted its holdings in Goodyear Tire & Rubber by 2.7% during 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 acquiring an additional 71,410 shares during the period. Edgestream Partners L.P. grew its position in 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 acquiring an additional 577,045 shares in the last quarter. SG Americas Securities LLC grew its position in Goodyear Tire & Rubber by 1,843.6% in the 3rd quarter. SG Americas Securities LLC now owns 474,980 shares of the company’s stock valued at $4,204,000 after acquiring an additional 450,542 shares in the last quarter. Finally, Hsbc Holdings PLC increased its stake in Goodyear Tire & Rubber by 196.8% during the second quarter. Hsbc Holdings PLC now owns 335,967 shares of the company’s stock worth $3,768,000 after purchasing an additional 222,767 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.

Goodyear Tire & Rubber Trading Down 2.4 %

GT opened at $10.74 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 1.14 and a debt-to-equity ratio of 1.51. The Goodyear Tire & Rubber Company has a 52 week low of $7.27 and a 52 week high of $15.24. The business’s 50 day moving average is $8.95 and its two-hundred day moving average is $9.84. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -10.33 and a beta of 1.77.

Goodyear Tire & Rubber (NASDAQ:GT) last issued its quarterly earnings data 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 company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.96 billion. During the same period last year, the firm posted $0.36 EPS. Goodyear Tire & Rubber’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts predict that The Goodyear Tire & Rubber Company will post 1.09 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.