MML Investors Services LLC Raises Stock Holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT)

MML Investors Services LLC lifted its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT – Get Rating) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,381 shares of the company’s stock after purchasing an additional 13,520 shares during the quarter. MML Investors Services LLC’s holdings in Goodyear Tire & Rubber were worth $1,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GT. SeaCrest Wealth Management LLC bought a new stake in Goodyear Tire & Rubber in the 2nd quarter worth approximately $27,000. Ancora Advisors LLC lifted its position in Goodyear Tire & Rubber by 142.9% in the 1st quarter. Ancora Advisors LLC now owns 1,700 shares of the company’s stock worth $30,000 after buying an additional 1,000 shares during the last quarter. CoreCap Advisors LLC bought a new stake in Goodyear Tire & Rubber in the 2nd quarter worth approximately $34,000. EverSource Wealth Advisors LLC bought a new stake in Goodyear Tire & Rubber in the 3rd quarter worth approximately $47,000. Finally, Wipfli Financial Advisors LLC bought a new stake in Goodyear Tire & Rubber in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 79.34% of the company’s stock.

Goodyear Tire & Rubber Stock Performance

Shares of GT stock opened at $11.60 on Friday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.57 and a current ratio of 1.21. The Goodyear Tire & Rubber Company has a fifty-two week low of $9.66 and a fifty-two week high of $15.69. The stock has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $11.63. The company has a market capitalization of $3.28 billion, a P/E ratio of 16.57 and a beta of 1.81.

Goodyear Tire & Rubber (NASDAQ:GT – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.10). Goodyear Tire & Rubber had a net margin of 0.97% and a return on equity of 6.96%. The company had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that The Goodyear Tire & Rubber Company will post 1.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GT shares. BNP Paribas downgraded Goodyear Tire & Rubber from a “neutral” rating to an “underperform” rating in a research report on Monday, January 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Goodyear Tire & Rubber from $11.00 to $9.00 and set a “hold” rating for the company in a research report on Friday, February 10th. Finally, Argus downgraded Goodyear Tire & Rubber from a “buy” rating to a “hold” rating in a research report on Tuesday, November 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.43.

Goodyear Tire & Rubber Company Profile

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Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. Its products include lines of rubber tires for automobiles, trucks, buses, aircraft, motorcycles, farm implements, earthmoving and mining equipment, industrial equipment and various other applications.