Newport Trust Company LLC Lowers Stake in The Goodyear Tire & Rubber Company $GT

Newport Trust Company LLC reduced its holdings in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) by 4.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,571,120 shares of the company’s stock after selling 150,937 shares during the period. Newport Trust Company LLC owned approximately 1.25% of Goodyear Tire & Rubber worth $31,283,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Focus Partners Wealth purchased a new position in Goodyear Tire & Rubber during the 3rd quarter worth $25,000. Hantz Financial Services Inc. grew its position in Goodyear Tire & Rubber by 384.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 5,289 shares of the company’s stock worth $40,000 after purchasing an additional 4,198 shares during the last quarter. Cloud Capital Management LLC purchased a new position in Goodyear Tire & Rubber during the 3rd quarter worth $47,000. Newbridge Financial Services Group Inc. grew its position in Goodyear Tire & Rubber by 29.2% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,749 shares of the company’s stock worth $68,000 after purchasing an additional 1,749 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Goodyear Tire & Rubber by 80.9% during the 4th quarter. GAMMA Investing LLC now owns 8,063 shares of the company’s stock worth $71,000 after purchasing an additional 3,605 shares during the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Stock Up 5.2%

Shares of NASDAQ GT opened at $5.87 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.04 and a debt-to-equity ratio of 1.66. The Goodyear Tire & Rubber Company has a 52 week low of $5.43 and a 52 week high of $12.03. The firm has a 50-day moving average price of $6.62 and a 200 day moving average price of $7.97. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -0.81 and a beta of 1.17.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.05. Goodyear Tire & Rubber had a negative net margin of 11.64% and a positive return on equity of 0.93%. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. Equities research analysts anticipate that The Goodyear Tire & Rubber Company will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on GT. TD Cowen lowered 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 research report on Wednesday, April 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Goodyear Tire & Rubber from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 17th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $10.00 price objective on shares of Goodyear Tire & Rubber in a research report on Monday, May 11th. Finally, Zacks Research cut shares of Goodyear Tire & Rubber from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $8.54.

About Goodyear Tire & Rubber

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.