Jefferies Financial Group Inc. Sells 7,903 Shares of The Goodyear Tire & Rubber Company $GT

Jefferies Financial Group Inc. decreased its holdings in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 20.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,000 shares of the company’s stock after selling 7,903 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Goodyear Tire & Rubber were worth $311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GT. Prudential Financial Inc. raised its stake in Goodyear Tire & Rubber by 19.6% during the second quarter. Prudential Financial Inc. now owns 115,610 shares of the company’s stock worth $1,199,000 after buying an additional 18,926 shares during the last quarter. American Century Companies Inc. grew its holdings in Goodyear Tire & Rubber by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 11,640,517 shares of the company’s stock worth $120,712,000 after acquiring an additional 854,130 shares during the period. Brandywine Global Investment Management LLC bought a new stake in shares of Goodyear Tire & Rubber during the 2nd quarter valued at about $12,921,000. JPMorgan Chase & Co. boosted its position in shares of Goodyear Tire & Rubber by 13.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,041,518 shares of the company’s stock valued at $21,171,000 after purchasing an additional 247,609 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Goodyear Tire & Rubber during the second quarter worth approximately $324,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on GT shares. JPMorgan Chase & Co. reduced their price target on shares of Goodyear Tire & Rubber from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Citigroup lowered their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. HSBC restated a “hold” rating and set a $9.50 price target (down from $15.50) on shares of Goodyear Tire & Rubber in a research note on Wednesday, August 20th. Hsbc Global Res cut shares of Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. Finally, Zacks Research raised Goodyear Tire & Rubber from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Goodyear Tire & Rubber presently has an average rating of “Hold” and an average price target of $10.85.

Goodyear Tire & Rubber Price Performance

GT stock opened at $8.60 on Friday. The company has a market cap of $2.46 billion, a P/E ratio of 6.05, a PEG ratio of 2.35 and a beta of 1.32. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.15 and a quick ratio of 0.63. The firm has a 50-day moving average of $7.51 and a 200 day moving average of $9.19. The Goodyear Tire & Rubber Company has a 1 year low of $6.51 and a 1 year high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.12. The company had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.67 billion. Goodyear Tire & Rubber had a net margin of 2.22% and a return on equity of 3.17%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. On average, sell-side analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 EPS for the current year.

Goodyear Tire & Rubber Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.