Leonteq Securities AG Increases Holdings in The Goodyear Tire & Rubber Company $GT

Leonteq Securities AG boosted its stake in The Goodyear Tire & Rubber Company (NASDAQ:GT) by 23.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 415,180 shares of the company’s stock after acquiring an additional 78,512 shares during the period. Leonteq Securities AG owned 0.14% of Goodyear Tire & Rubber worth $2,753,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in Goodyear Tire & Rubber by 6.3% in the second quarter. Envestnet Asset Management Inc. now owns 17,021 shares of the company’s stock worth $177,000 after purchasing an additional 1,011 shares during the period. Pin Oak Investment Advisors Inc. lifted its position in Goodyear Tire & Rubber by 1.4% during the fourth quarter. Pin Oak Investment Advisors Inc. now owns 75,055 shares of the company’s stock valued at $657,000 after buying an additional 1,065 shares during the period. Farther Finance Advisors LLC lifted its position in Goodyear Tire & Rubber by 11.5% during the fourth quarter. Farther Finance Advisors LLC now owns 11,181 shares of the company’s stock valued at $98,000 after buying an additional 1,152 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Goodyear Tire & Rubber by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 131,568 shares of the company’s stock valued at $1,153,000 after buying an additional 1,282 shares in the last quarter. Finally, Advisory Services Network LLC boosted its holdings in shares of Goodyear Tire & Rubber by 2.8% during the 4th quarter. Advisory Services Network LLC now owns 56,631 shares of the company’s stock valued at $496,000 after buying an additional 1,529 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Trading Up 2.0%

NASDAQ GT opened at $6.59 on Friday. The Goodyear Tire & Rubber Company has a 12 month low of $5.43 and a 12 month high of $11.79. The company has a current ratio of 1.04, a quick ratio of 0.51 and a debt-to-equity ratio of 1.66. The stock’s fifty day moving average price is $6.27 and its 200-day moving average price is $7.56. The stock has a market cap of $1.89 billion, a P/E ratio of -0.91 and a beta of 1.12.

Goodyear Tire & Rubber (NASDAQ:GT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.81 billion. Goodyear Tire & Rubber had a positive return on equity of 0.93% and a negative net margin of 11.64%.Goodyear Tire & Rubber’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. As a group, equities analysts forecast that The Goodyear Tire & Rubber Company will post -0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GT. Citigroup decreased their price target on shares of Goodyear Tire & Rubber from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. TD Cowen cut their price objective on shares of Goodyear Tire & Rubber from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 target price (down from $9.00) on shares of Goodyear Tire & Rubber in a research note on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Goodyear Tire & Rubber from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $8.54.

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.