The Goodyear Tire & Rubber Company $GT Stock Position Cut by EVR Research LP

EVR Research LP cut its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 30.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 700,000 shares of the company’s stock after selling 300,000 shares during the quarter. Goodyear Tire & Rubber comprises about 3.1% of EVR Research LP’s holdings, making the stock its 8th biggest holding. EVR Research LP’s holdings in Goodyear Tire & Rubber were worth $5,236,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. CenterBook Partners LP raised its stake in Goodyear Tire & Rubber by 166.1% in the third quarter. CenterBook Partners LP now owns 2,040,792 shares of the company’s stock worth $15,265,000 after buying an additional 1,273,883 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in Goodyear Tire & Rubber during the 3rd quarter valued at approximately $1,318,000. Allianz Asset Management GmbH boosted its position in Goodyear Tire & Rubber by 76.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,135,023 shares of the company’s stock valued at $8,490,000 after acquiring an additional 491,210 shares in the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $21,171,000 after acquiring an additional 247,609 shares during the period. Finally, Norges Bank bought a new position in shares of Goodyear Tire & Rubber in the 2nd quarter worth approximately $29,112,000. Institutional investors own 84.19% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GT. Weiss Ratings restated a “sell (d-)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, December 29th. Morgan Stanley increased their price objective on Goodyear Tire & Rubber from $6.88 to $7.30 and gave the stock an “underweight” rating in a report on Friday, November 28th. Zacks Research lowered Goodyear Tire & Rubber from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Citigroup boosted their target price on shares of Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.30.

Goodyear Tire & Rubber Price Performance

GT opened at $7.07 on Friday. The firm has a market cap of $2.03 billion, a PE ratio of -1.18, a P/E/G ratio of 0.31 and a beta of 1.12. The stock has a 50-day moving average price of $8.97 and a 200-day moving average price of $8.36. The Goodyear Tire & Rubber Company has a 1 year low of $6.51 and a 1 year high of $12.03. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.06 and a quick ratio of 0.54.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Monday, February 9th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.06). The firm had revenue of $4.92 billion for the quarter, compared to analysts’ expectations of $4.85 billion. Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. Sell-side analysts predict that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current fiscal year.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear’s core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.